Health Insurance Premiums by Age • Benzinga


Wish to jump straight to medical insurance quotes? Compare here and find the most affordable premium with one of the best coverage.

Wondering what age has to do with how much you’re paying for medical insurance? The reply is that an individual’s age is a serious determining factor for medical insurance corporations. Here’s what it’s essential know concerning the rules that insurance firms must follow and what you’ll be able to do to save lots of in your medical insurance costs. 

Average Insurance Premiums by Age

18 to 24: $278

25 to 34: $329

35 to 44: $411

45 to 54: $551

55 to 64: $784

How Does Age Impact Your Private Health Insurance Premiums?

Age is one among many aspects that may impact your private medical insurance premiums. It’s also the factor that is concentrated on essentially the most. The final idea of insurance firms is that a younger person has fewer health risks than an older person. For that reason, insurance firms usually tend to offer a lower insurance premium to a young adult while charging senior residents over and over that premium. 

Today, there are age restrictions for medical insurance. The insurance premium that is obtainable to a 21-year-old is taken into account the baseline (otherwise known as base rate or base amount) for insurance premiums. Insurance firms usually are not allowed to charge anyone greater than 3 times that base amount. For instance, if a 21-year-old had an insurance premium of $150, essentially the most that a 64-year-old might be charged is $450.

People over the age of 65 can’t be charged greater than 3 times the bottom rate either. At this point, most individuals grow to be eligible for Medicare at age 65, making private medical insurance premiums irrelevant. Nevertheless, Americans can still elect to enroll in a personal medical insurance plan in the event that they want to. 

Do Medicaid Premiums Change With Age?

No, Medicaid premiums don’t increase or decrease based on someone’s age. Income levels are the one factor that determines Medicaid premiums.

The Federal Default Age Rating Chart

Prior to the Reasonably priced Care Act (ACA), insurance firms were in a position to set their very own rules when it got here to setting the premium amount for each enrollee’s plan, which led to older enrollees sometimes paying as much as five times more for premiums than their younger counterparts. 

With the ACA, rules were put in place to limit how much insurance firms could charge enrollees based on their age. The present federal rule states that an adult aged 64 or older can’t be charged greater than 3 times the bottom rate. The bottom rate is the common premium for a 21-year-old. 

States With Strict Age Rating Rules

Every state must follow the federal rule at a minimum. Nevertheless, some states have made exceptions to the federal age rule to cut back the gap between premiums between younger and older adults overall. There are pros and cons to this, because it signifies that younger individuals on this state may pay the next premium than in other states, and older individuals may pay lower than they might in other states.

The states with their very own guidelines regarding medical insurance premiums based on age are:

  • Alabama, Mississippi and Oregon apply the federal rule to people 21 and older, but people under 21 pay a medical insurance premium that’s 63.5% of the bottom rate.
  • Massachusetts has a completely different algorithm for all age groups. People throughout the 21 to 24 age bracket pay 118% of the bottom rate, while people 49 and older have a lower age ratio than the federal rule.
  • Minnesota applies the federal rule to people 21 and over. Medical insurance policyholders under the age of 21 pay 89% of the bottom rate.
  • Latest York and Vermont don’t allow medical insurance corporations to make use of age as an element when determining medical insurance premiums.
  • Utah applies the federal rule to people 64 and older. Alternatively, people within the 27 to 36 age group pay almost 140% of the bottom rate. Children under age 14 have a set insurance premium that averages out to 79% of the bottom rate.
  • Washington, D.C. only allows medical insurance corporations to charge individuals 64 or older two times the bottom rate.

The way to Improve Your Health Insurance Premiums

You may’t change your age, but you’ll be able to do other things to assist improve your medical insurance premium. To accomplish that, you ought to be aware of the aspects that may impact your medical insurance premium. It’s also vital to know all of your medical insurance options. 

#1: Consider a gaggle plan: Group plans are offered through employers, unions and a few associations. These plans are typically cheaper than individual medical insurance plans. In case you enroll in a gaggle plan through your employer, it might also contribute money toward your insurance premium. 

#2: Check to see should you’re eligible for presidency subsidies: In case you’re buying a person plan, you might be eligible for the Advanced Premium Tax Credit subsidy. This profit lowers your monthly premium payment. 

#3: Ask about Medicaid: Every state offers a Medicaid program in addition to the Children’s Health Insurance Plan (CHIP). These plans provide medical insurance coverage with a low or no monthly premium to eligible low-income individuals and families. Your state’s Department of Health can enable you to determine whether you’re eligible to enroll in one among these plans. It’s possible you’ll also give you the option to enroll via the medical insurance marketplace. 

#4: Consider a short-term plan: Short-term medical insurance plans are inclined to be cheaper than private medical insurance plans. There are pros and cons to buying a short-term plan, but it surely might be an option should you can’t afford other medical insurance or should you missed the annual enrollment period. Short-term plans only offer coverage for as much as a yr, so it is just not a long-term solution. Regulations for short-term medical insurance plans also vary by state. You may expect that a short-term plan is not going to cover pre-existing conditions. It also may not cover mental health services, prescribed drugs, maternity care and more. 

#5: Purchase a high-deductible plan: If you may have several plan options to pick from, you would possibly go for a high-deductible plan. High-deductible plans typically have the bottom insurance premiums, so that you’ll have less of a monthly expense to pay on your medical insurance. Nevertheless, high-deductible plans also mean that you may expect to pay more cash out-of-pocket on your health care. You may expect to pay higher deductibles before your medical insurance advantages will begin. 

#6. Consider a medical complement plan: Moreover, you would possibly consider supplemental insurance. These plans typically provide coverage for specific health conditions, critical care and accidents at a low price. In addition they normally don’t include a deductible. Supplemental plans generally is a nice option so as to add on to a high-deductible plan should you’re nervous about health care expenses. 

#7. See should you can get a health savings account: Health savings accounts (HSAs) are savings accounts that you may use to pay for medical expenses that usually are not paid by your medical insurance. The cash that you simply put into your HSA is tax-free or tax-deductible, allowing you to save lots of on health expenses. HSA plans are sometimes combined with high-deductible plans for extra peace of mind. 

#8. In case you’re 65 or older, apply for Medicare: Medicare is medical insurance that the majority Americans ages 65 or older are eligible for. In some cases, younger people can be eligible in the event that they are disabled. Medicare’s premiums are typically much lower than private medical insurance plans. 

#9. In case you’re under 26, consider staying in your parent’s medical insurance plan: Adults under the age of 26 are eligible to stay on their parent’s medical insurance plan. Generally, staying on this family plan can enable you to save on medical insurance. 

Compare Health Insurance

With so many medical insurance options on the market, it could actually be difficult to maintain up. That’s why Benzinga is committed to providing you with insights and knowledge that may help you make an informed decision on the subject of your health care. 

# of Healthcare Providers


1 Minute Review

Previously, Aetna medical insurance plans were available on Reasonably priced Care Act (ACA) Marketplaces across the country. Though Aetna not offers ACA-compliant plans, the corporate continues to make healthcare cheaper through Medicare Advantage Part D coverage and dental insurance coverage.

Aetna’s Medicare options extend to most parts of the country, and premiums for Advantage plans begin at $0 a month. Part D coverage, which helps pay for prescribed drugs, begins at about $7 a month in most states. Moreover, Aetna offers dental insurance and dental discount plan options that anyone who doesn’t have dental coverage through their employer can benefit from. As well as, Aetna also offers numerous additional advantages not seen with other coverage providers, including discounts on prescribed drugs and rewards for meeting health goals. 



  • Offers multiple mobile app offerings to reward you for reaching fitness goals
  • Dental discount plans may include coverage for prescribed drugs
  • Medicare Advantage plans available with no monthly premiums


  • Vision insurance only available when purchased with a dental plan
  • ACA-compliant medical insurance not available

Blue Cross Blue Shield

Best For

Nationwide coverage


Call Now

securely through Blue Cross Blue Shield’s

# of Healthcare Providers


1 Minute Review

Blue Cross Blue Shield consists of 35 separate corporations that provide medical insurance for roughly one-third of Americans. The corporate serves all 50 states, Washington D.C., Puerto Rico, and plenty of international areas.

When you look into the BCBS affiliates near you, understand what health plans can be found in addition to the medical insurance cost. It offers extensive coverage that provides nearly every American the chance to buy a BCBS-affiliated health plan. Nevertheless, you should definitely read up on the corporate since the premiums and deductibles may not suit you and your circumstances. 

Best For

  • Desire for a latest doctor with loads of options
  • No cap on annual maximum limits
  • Comprehensive coverage with exclusive discounts and partnerships


  • Coverage in all 50 states and out of doors the country
  • Covers each generic and brand-name drugs
  • Wide network of doctors, hospitals and specialists


  • Plans offered through regional corporations, meaning you have to look to your regional company for specific policies
  • Fundamental customer support helpline could also be difficult to achieve


Best For

Pharmacy programs

# of Healthcare Providers


1 Minute Review

Cigna Health Insurance offers low-cost private medical insurance and Medicare Advantage and Complement Plans for families and individuals. Founded in 1982 and based in Bloomfield, Connecticut, the corporate offers a big selection of medical insurance plans including three Bronze plans, 4 Silver and one Gold. All Cigna plans are EPO plans, meaning they’re all in-network. Free telehealth visits include every plan and can be found to customers 24/7.

The four-metal tier coverage plans include:

  • Bronze
  • Expanded bronze
  • Silver
  • Gold

Individual and family Cigna private insurance coverage are all available on the Marketplace and thru the Cigna website, in addition to with licensed agents in each state. Because they’re sold through the Marketplace, they will only be purchased during your state’s open enrollment period. Special enrollment periods apply for special circumstances.

Best For

  • Easy accessibility to advantages
  • Pharmacy programs
  • Savings and spending accounts akin to HSA and FSA
  • Supplemental plans


  • Home delivery for prescriptions
  • Health management mobile apps
  • Easy ID card alternative


  • Potentially high deductibles
  • Not available in all 50 states

CoverPlus Health

Guardian Health Insurance

Best For

Guaranteed Renewability

Ceaselessly Asked Questions

Do I lose my parent’s insurance the day I turn 26?


Do I lose my parent’s insurance the day I turn 26?

asked 2022-09-09

Ashley Hart

Is it higher to have a copay or coinsurance?


Is it higher to have a copay or coinsurance?

asked 2022-09-09

Ashley Hart



Please enter your comment!
Please enter your name here