Health insurance costs in Florida, and around the US, have shot up over the past decade or two. However, since the introduction of Obamacare, the rates (and rates of increase) have become more bearable.
If you live in the Sunshine State and need health insurance, you probably want to get an idea of how much is health insurance in Florida.
Below we look at the average costs in the state. We’ll also look at what factors will affect those costs.
How Much Is Health Insurance In Florida
To give you a general idea of pricing in the state of Florida, the average cost of health insurance premiums per month is $528 in 2021.
This goes across all include the metal tiers and eligibility for certain types of insurance such as Medicaid and Medicare. The average cost of health insurance in Florida is a little too close to the national average.
The cost is $33 higher when it is compared to the national average health insurance premiums for a 40-year old. The national average health insurance premium for a 40-year-old person is $495 per month across all metal tiers in 2021.
Florida’s health insurance premiums per year will be $6,336 per year in 2021. That is higher compared to the national average cost of health insurance premiums per year which is $5,940.
Right now, Florida ranks #15 in health insurance rates in the United States. It is succeeded by the state of North Carolina, whose monthly health insurance premium is $521 and an annual premium of $6,247.
As of this writing, the state with the highest health insurance premium is West Virginia.
Main Factors That Affect Health Insurance Costs In Florida
Metal Tiers and Health Insurance Costs
Another factor that affects health insurance rates across the country is the metal tiers. The order of health insurance based on metal tiers go like this:
- Platinum
- Gold
- Silver
- Bronze
The more luxurious the metal, the more expensive it is.
The Age Factor
Another factor that affects health insurance premiums in Florida is age. For the average 40-year-old enrollee, the average monthly cost of a bronze plan is $267, for silver $314.47, and for gold $373.72.
As for younger beneficiaries, it is less expensive. For enrollees up to 20 years old, a bronze plan averagely costs $190.74, silver $224.66, and gold $266.98.
Insurance Company
Another thing that affects the overall cost of health insurance premiums is who offers the health insurance policy. In Florida, Ambetter Essential Care 1 (2021) offers the cheapest bronze plan, which is $305 per month for a 40-year-old beneficiary.
Where In Florida You Live
The county you live in will also impact how much you pay for health insurance in Florida. Currently, you can find the lowest rates if you live in Brevard County.
The counties with the highest costs are Hardee and Nassau.
The Best Way To Find Cheap Insurance in Florida
As you can see there are a lot of factors that affect how much you’ll pay for insurance in the state of Florida. Some factors you don’t have control over such as your age. Some, such as where in Florida you live, you may not want to change just to save on health insurance.
But others you can control. The biggest being which tier of coverage you choose and what insurance company you get it from.
The best way to save is to shop around. Get a number of quotes from different insurers. Then decide which plan has the best combination of low premiums and coverage for you and your family.
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