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How Much Is Health Insurance in Florida?

If you are looking for your best health insurance plan in the state of Florida, you can find many affordable choices on the Florida health insurance marketplace.

The average cost of health insurance for a 40-year-old person is $554 per month.

In 2020, the average cost of health insurance is $554 per month for a 40-year-old person. This is a decrease of 4% from 2018 when the monthly rate was $575.

Blue Cross Blue Shield provides the best rates in the majority of Florida and has offerings in every county. A plan that consumers can start looking at is the BlueOptions Silver 1410, a Silver policy that has the lowest premiums in a quarter of Florida counties.

Finding Your Best Health Insurance Coverages in Florida

Note that premiums are not the only cost component when it comes to your health care. Out-of-pocket costs in the form of deductibles, copays, and coinsurance are just as significant to compare when you shop.

The best affordable health insurance plan for you and your family will depend on your income level and expected healthcare requirements.

Families with higher expected medical costs should opt for health insurance plans with higher cost-sharing benefits, while those who expect to be relatively healthy or to require little to no routine care should look toward affordable plans.

Average Should Start by Browsing Silver Plans

Unless you are extremely healthy or know you will have medical expenses, we advise that you begin your buying process by looking at the Silver metal tiered health insurance policies. These are the plans that the exchange offerings are typically benchmarked off of, and they occupy a good middle ground between premiums you are guaranteed to pay and cost-sharing obligations that you will incur if you have any medical costs.

In such a case, these plans can essentially provide more benefits than higher-priced Gold and Platinum plans but at a much lower premium.

Younger and Healthier People Can Look for Bronze and Catastrophic Plans

Bronze plans have their cost-sharing near the maximum limits.

Bronze and Catastrophic plans will have the lowest premiums available but come at the cost of very high deductibles. Most of the plans in this metal tier will have their cost-sharing near the maximum limits, meaning that you will first require to meet thousands of dollars of fees before the health plans benefits really begin kicking in.

These kinds of health insurance plans only make sense if you want coverage for tremendously costly emergencies and have little to no need for routine care. Catastrophic plans are only offered for those people under the age of 30.

Short-Term Health Insurance in Florida

Florida follows the same guidelines set by federal guidelines for short-term health insurance. This allows for the plans to offer coverage for up to 12 months and be renewable for up to 36 months. Besides, short-term plans do not need to cover the essential benefits that all marketplace Obamacare plans must cover.

You may want to consider buying short-term health insurance if you lose employer-sponsored coverage or miss open enrollment for an Affordable Care Act marketplace policy. Nevertheless, it is essential to note that short-term plans will require medical underwriting and typically do not provide coverage for preexisting conditions.

Resources and References:

• Affordable Care Act
• Marketplace Plans