How Much Does Individual Cigna Health Insurance Plans Cost?
Whether in charge of only yourself or your family, you most definitely have a budget that you live by. Every month, we take care of expenses such as car expenses, credit card bills, utilities, groceries, rent, and many more. While most of these expenses are no-brainers, others can be a little difficult to estimate, such as medical care costs.
We will discuss the factors affecting healthcare monthly premiums and assist you in determining: how much will Cigna health insurance plans cost me per month?
What Is The Cost of Medical Insurance for One Individual per Month?
The typical national monthly health insurance cost for one individual on a benchmark plan is $462, or $199 with a subsidy. Monthly premiums plans differ by state and can be lowered by subsidies. The fastest way to get accurate costs is to get a quote from a licensed insurance agent.
In the past, health insurance organizations could use any number of factors to determine the cost of health insurance premiums.
Before the Affordable Care Act was enacted, companies could discriminate based on gender or health status, and they could factor the risk of future medical claims into estimating profiles.
Now, insurers are limited to the factors listed below when determining the price of their plans.
While some states such as Vermont and New York do not consider age when determining health insurance premiums, it is a major factor in many other states. The age of 21 is considered the lowest age and the premiums are adjusted upwards for those with ages higher than that. The highest rise, however, comes after 50, as older U.S. residents are expected to have higher healthcare costs.
The use of tobacco affects the cost of health insurance each month. Smokers are charged up to 50 percent more than non-tobacco users by health insurance. While some states have opted not to allow insurance organizations to charge smokers the maximum, tobacco use still affects pricing.
Location affects the cost of the premiums. This is because if there are no competitors offering the same insurance services in the area, the cost will tend to be higher as is seen especially in rural areas in comparison to highly populated urban areas where these insurance carriers are many making pricing higher for these residents.
What Are The Plan Categories?
Lastly, the Cigna health insurance plans’ cost per month will be affected by the coverage you choose. These plans are categorized in metal tiers: Catastrophic, Platinum, Gold, Silver, and Bronze. Each of these carries a different premium depending on the overall costs they cover. Premium prices are also influenced by the plan’s deductibles, copays, coinsurance, and the number of family members.
What Is The Cost of Family Health Insurance per Month?
According to consumer data collected by one health insurance agency, the average premium for a family of 4 is around $1,200. This does not comprise families who received government subsidies. Similar to individual insurance, your family cost will depend on the plan category, tobacco use, ages, location, and the number of plan members.
Talking with a licensed health insurance agent is the best way to get an estimate and find the best cost for your family’s wants. Health Insurance Plans Org can assist. We have licensed insurance agents who understand this health insurance coverage and can guide you through all of your health insurance choices.
Our service is fast, easy, and comes at no cost. Getting a free quote online or calling (866) 358-2150 will finally answer your question: How much will family and individual health insurance cost me each month?
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References and Resources
Use of Tobacco
Bronze Health Insurance Plan