Costs of medical care can be high and fluctuate from year to year. The medical costs of one family may be higher than the other, even if they both have the same health insurance.
A tool like KFF Marketplace's calculator can help find you an affordable health plan that suits 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. In most cases, the health insurance provider and you share the cost for medical services until your deductible is met. 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. Low deductible plans usually have lower premiums but will cost you more if you fall ill or need to pay for a medical emergency.
The highest priced plans for individuals and familys have an annual deductible at least $1700. 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.
If you're a health care consumer who doesn't expect to use much medical services, or you don't take regular prescriptions, you may want to look into a bronze-tier health insurance plan, which can be relatively inexpensive. Bronze-tier health insurance plans often have higher deductibles but lower premiums than other coverage tiers. Some bronze-tier policies have deductibles that are equal to the $7,900 limit on out-of pocket expenses set by law in 2019.