Health care costs can be substantial and vary widely from year to year. Even if two families share the same insurance coverage, a family with a chronic illness may have higher medical costs.
Using a tool like KFF's Marketplace calculator can help you find an affordable health insurance plan that fits your needs and 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 is an amount you will need to pay out-of-pocket before your health insurance company starts paying on your behalf. Most of the time, your health insurance company and you will split the cost of the medical services you receive until you reach your deductible. Once you reach the deductible level, your health insurer will pay the rest.
You can choose between a health plan with high or low deductibles. The low deductible plan typically has lower premiums, but you will pay more out of pocket if you get sick or have a medical emergency.
The most expensive plans are those with an annual deductible below $1,700. Lively CEO Ryan Wiik says that Obamacare plans have the highest deductibles, with some options having an average deductible as high as $4,000 or even more.
You might want to consider a bronze tier health insurance policy if, as a health consumer, you do not anticipate using many medical services and you don't regularly take prescriptions. This plan can be inexpensive. Bronze-tier policies have higher deductibles. However, the premiums can be lower. Some bronze-tier plans have deductibles that match the $7,900 maximum out-of-pocket limit set by the law for 2019.