The States With the Least expensive and Most Expensive Health Insurance

0
5

Enrollment within the federal medical health insurance marketplace reached a record high this yr. The rise was likely as a consequence of increased premium tax credits for the coverage and prolonged eligibility that was a part of the American Rescue Plan signed by President Joe Biden in 2021, in accordance with the Urban Institute.

However the tax credits are as a consequence of expire at the top of this yr. The Urban Institute says that if the enhancements are usually not prolonged, 3.1 million more people will likely be uninsured in 2023, and enrollees who remain will spend lots of of dollars more per person on premiums.

And premiums are only the beginning. Many U.S. households don’t come up with the money for available to cover the fee of a typical deductible in a non-public health plan, in accordance with an evaluation by the Kaiser Family Foundation. A couple of third of single-person households with private insurance in 2019 couldn’t pay a $2,000 bill, and half couldn’t pay a $6,000 bill, in accordance with KFF.

And that results in medical debt. Nearly 1 in 10 adults – or roughly 23 million people – owe medical debt, in accordance with KFF. This includes 11 million who owe greater than $2,000 and three million individuals who owe greater than $10,000.

Scroll to Proceed

The prices are eating up Americans’ paychecks. Premium contributions and deductibles totaled 11.6% of median income in 2020, up from 9.1% in 2010, according the Commonwealth Fund.

Americans spend more on health care than some other nation by far—$12,318 per capita, in accordance with the OECD; that’s $4,935 greater than the subsequent most costly country, Germany, which spends $7,383 per capita.

Health care affordability isn’t just a difficulty for many who pay healthcare on their very own or through the marketplace, it’s becoming a burden even to large employers who provide the profit to their employees. A 2021 survey by Kaiser Family Foundation found that overall, large employers find healthcare costs excessive and that that the fee of providing health advantages to employees will grow to be unsustainable in the subsequent five to 10 years. Some 85% of respondents consider that there’ll have to be greater government roles in providing coverage and containing costs. One respondent noted in a follow-up interview, “if it’s not the federal government stepping in, who wouldn’t it be?”

This list shows the typical cost of medical health insurance in each of the 50 states, starting from $831 a month in West Virginia, the most costly state, to $309 a month in the most affordable state.

The figures come from Value Penguin, which aggregated premium rates from the Centers for Medicare & Medicaid Services site. Using the rates and premiums for every plan, averages were calculated for a wide range of variables corresponding to metal tier, family size or county. Average costs per state are calculated from a silver plan for 40-year-old.

1. West Virginia

  • Monthly cost: $831
  • Annual cost: $9,972
  • Difference from national average: +53.72%

A variety of aspects contribute to the rationale some states cost greater than others. One in all them known as “silver loading,” where insurers raise the premiums they charge for silver plans to offset the now-uncompensated cost of providing cost-sharing reductions. You may read more about silver loading at Brookings. 

West Virginia is certainly one of three states that does not allow silver loading, and that is certainly one of the explanations premiums are high here, as explained by the West Virginia Center on Budget and Policy. In addition they show how rather more West Virginians pays if the American Rescue Plan tax credits are allowed to run out at the top of the yr.

sdakota rushmore sh

2. South Dakota

  • Monthly cost: $811
  • Annual cost: $9,732
  • Difference from national average: +50.02%

20 casper wyoming Andrew Farkas:Wikipedia

3. Wyoming

  • Monthly cost: $764
  • Annual cost: $9,168
  • Difference from national average: +41.32%

3 vermont sh

4. Vermont

  • Monthly cost: $760
  • Annual cost: $9,120
  • Difference from national average: +40.58%

louisiana new orleans sh

5. Louisiana

  • Monthly cost: $728
  • Annual cost: $8,736
  • Difference from national average: +34.67%

34 alaska skagway  Paolo Trovo : Shutterstock.

6. Alaska

  • Monthly cost: $715
  • Annual cost: $8,580
  • Difference from national average: +32.26%

3 new york nyc sh

7. Recent York

  • Monthly cost: $713
  • Annual cost: $8,556
  • Difference from national average: +31.89%

nebraska fishing sh

8. Nebraska

  • Monthly cost: $685
  • Annual cost: $8,220
  • Difference from national average: +26.71%

19 Oklahoma City dog bike sh

9. Oklahoma

  • Monthly cost: $635
  • Annual cost: $7,620
  • Difference from national average: +17.46%

19 asheville Ncarolina sh

10. North Carolina

  • Monthly cost: $634
  • Annual cost: $7,608
  • Difference from national average: +17.28%

st louis missouri sh

11. Missouri

  • Monthly cost: $620
  • Annual cost: $7,440
  • Difference from national average: +14.69%

3 West palm beach florida GagliardiImages : Shutterstock

12. Florida

  • Monthly cost: $585
  • Annual cost: $7,020
  • Difference from national average: +8.21%

birmingham alabama sh

13. Alabama

  • Monthly cost: $579
  • Annual cost: $6,948
  • Difference from national average: +7.1%

las vegas nevada sh

14. Nevada

  • Monthly cost: $578
  • Annual cost: $6,936
  • Difference from national average: +6.92%

28 tempe ariz asu sh

15. Arizona

  • Monthly cost: $577
  • Annual cost: $6,924
  • Difference from national average: +6.73%

7 texas austin sh

16. Texas

  • Monthly cost: $575
  • Annual cost: $6,900
  • Difference from national average: +6.36%

connecticut hartford sh

17. Connecticut

  • Monthly cost: $564
  • Annual cost: $6,768
  • Difference from national average: +4.33%

salt lake utah sh

18. Utah

  • Monthly cost: $563
  • Annual cost: $6,756
  • Difference from national average: +4.14%

29 illinois springfield Brian S : Shutterstock.

19. Illinois

  • Monthly cost: $556
  • Annual cost: $6,672
  • Difference from national average: +2.85%

4 Rehoboth Beach, Delaware

20. Delaware

  • Monthly cost: $555
  • Annual cost: $6,660
  • Difference from national average: +2.66%

1 california yosemite sh

21. California

  • Monthly cost: $537
  • Annual cost: $6,444
  • Difference from national average: -0.67%

1 new jersey Manasquan Inlet Beach sh

21. Recent Jersey

  • Monthly cost: $537
  • Annual cost: $6,444
  • Difference from national average: -0.67%

boston mass sean pavone shutterstock

23. Massachusetts

  • Monthly cost: $535
  • Annual cost: $6,420
  • Difference from national average: -1.04%

Lawrence kansas sh

24. Kansas

  • Monthly cost: $534
  • Annual cost: $6,408
  • Difference from national average: -1.22%

15 iowa city iowa- univ of iowa sh

25. Iowa

  • Monthly cost: $533
  • Annual cost: $6,396
  • Difference from national average: -1.41%

16 univ Ndakota grand forks Ken Wolter : Shutterstock

26. North Dakota

  • Monthly cost: $524
  • Annual cost: $6,288
  • Difference from national average: -3.07%

22 boise idaho Checubus : Shutterstock

27. Idaho

  • Monthly cost: $516
  • Annual cost: $6,192
  • Difference from national average: -4.55%

11 madison wis bikes sh

28. Wisconsin

  • Monthly cost: $514
  • Annual cost: $6,168
  • Difference from national average: -4.92%

27. Richmond, Virginia sh

29. Virginia

  • Monthly cost: $512
  • Annual cost: $6,144
  • Difference from national average: -5.29%

gulfport, mississippi

30. Mississippi

  • Monthly cost: $511
  • Annual cost: $6,132
  • Difference from national average: -5.48%

chattanooga tenn sh

31. Tennessee

  • Monthly cost: $508
  • Annual cost: $6,096
  • Difference from national average: -6.03%

23 Philadelphia sh

32. Pennsylvania

  • Monthly cost: $498
  • Annual cost: $5,976
  • Difference from national average: -7.88%

3 hawaii hanalei sh

33. Hawaii

  • Monthly cost: $490
  • Annual cost: $5,880
  • Difference from national average: -9.36%

28 columbus ohio aceshot1 : Shutterstock

33. Ohio

  • Monthly cost: $490
  • Annual cost: $5,880
  • Difference from national average: -9.36%

6 albuquerque new mexico Raisa Nastukova : Shutterstock

35. Recent Mexico

  • Monthly cost: $480
  • Annual cost: $5,760
  • Difference from national average: -11.21%

42 montana livingston Nick Fox : Shutterstock

36. Montana

  • Monthly cost: $479
  • Annual cost: $5,748
  • Difference from national average: -11.39%

12 frankfort kentucky sh

37. Kentucky

  • Monthly cost: $478
  • Annual cost: $5,736
  • Difference from national average: -11.58%

21 portland oregon sh

38. Oregon

  • Monthly cost: $475
  • Annual cost: $5,700
  • Difference from national average: -12.13%

18 portland maine sh

39. Maine

  • Monthly cost: $465
  • Annual cost: $5,580
  • Difference from national average: -13.98%

seattle, washington, mt rainier

40. Washington

  • Monthly cost: $443
  • Annual cost: $5,316
  • Difference from national average: -18.05%

charleston, south carolina

41. South Carolina

  • Monthly cost: $436
  • Annual cost: $5,232
  • Difference from national average: -19.35%

23 indiana bloomington univ sh

42. Indiana

  • Monthly cost: $433
  • Annual cost: $5,196
  • Difference from national average: -19.90%

9 bentonville arkansas RozenskiP : Shutterstock

43. Arkansas

  • Monthly cost: $419
  • Annual cost: $5,028
  • Difference from national average: -22.49%

7 newport RI rhode island sh

44. Rhode Island

  • Monthly cost: $413
  • Annual cost: $4,956
  • Difference from national average: -23.60%

ann arbor mich Paul Brady Photography : Shutterstock.

45. Michigan

  • Monthly cost: $410
  • Annual cost: $4,920
  • Difference from national average: -24.16%

13. Idaho Springs, Colorado sh

46. Colorado

  • Monthly cost: $409
  • Annual cost: $4,908
  • Difference from national average: -24.34%

8 rochester minn Ken Wolter : Shutterstock

47. Minnesota

  • Monthly cost: $389
  • Annual cost: $4,668
  • Difference from national average: -28.04%

35 Maryland annapolis sh

48. Maryland

  • Monthly cost: $365
  • Annual cost: $4,380
  • Difference from national average: -32.48%

new hampshire portsmouth sh

49. Recent Hampshire

  • Monthly cost: $360
  • Annual cost: $4,320
  • Difference from national average: -33.41%

13 Savannah Georgia sh

50. Georgia

  • Monthly cost: $309
  • Annual cost: $3,708
  • Difference from national average: -42.84%

See this list at ValuePenguin.com.

LEAVE A REPLY

Please enter your comment!
Please enter your name here