Health care costs are substantial and can change dramatically from year-to-year. It is possible that a family suffering from a chronic disease will have higher medical bills than another, despite both having the same health coverage.
You can use a tool, such as KFF's Marketplace Calculator, to find an affordable plan of health insurance that meets your needs and fits within your budget. This site provides consumers with information about deductibles, maximum out-of pocket costs and other cost sharing options.
Average Health Insurance Deductible
A deductible represents the amount you'll have to pay upfront before your insurance provider begins paying. In most cases, you and your health insurance provider will share the cost of medical services until you reach the deductible level. Once you reach this point, the health insurance provider pays the remainder of the costs.
You can choose a high deductible health plan, or a low-deductible one. You can choose a low-deductible plan that has lower monthly premiums. However, you'll pay more in the event of an emergency or illness.
Most plans with a deductible of $1,700 or more are expensive for families and individuals. Lively CEO Ryan Wiik states that Obamacare-based plans are the ones with the highest deductibles. Some options have an average deductible up to $4,000, or even higher.
You may be interested in a bronze-tier plan if you are a consumer of health care who does not expect to use many medical services or do not take prescriptions regularly. These plans can be affordable. Bronze-tier plans are more expensive, but their premiums tend to be less than those of other coverage levels. Bronze-tier plans may have deductibles equal to the maximum limit of $7,900 set by law for 2019.