Costs of medical care can be high and fluctuate from year to year. One family with a chronic condition may be more likely to experience higher medical expenses than another, even if both families have had the same health care coverage.
You can find a health insurance plan within your budget and needs by using a tool such as the Marketplace Calculator from KFF. The site also provides information on deductibles, out-of-pocket maximums and other cost-sharing options that are important for consumers to know before making their health insurance selection.
Average Health Insurance Deductible
A deductible represents the amount you'll have to pay upfront before your insurance provider begins paying. Most of the time, your health insurance company and you will split the cost of the medical services you receive until you reach your deductible. Once you've reached this level, it is your health insurance that pays the rest.
You can either choose a plan with a high or low deductible. The low deductible health plan usually has lower premiums. But you'll have to pay more if your medical needs are urgent or you get sick.
The most expensive plans are those with an annual deductible below $1,700. Lively CEO Ryan Wiik says that Obamacare plans have the highest deductibles, with some options having an average deductible as high as $4,000 or even more.
Bronze-tier plans are relatively affordable if you don't use prescriptions or expect to need many medical services. Bronze-tier plans have higher deductibles, but the premiums are often lower than other tiers of coverage. Bronze-tier plans may have deductibles equal to the maximum limit of $7,900 set by law for 2019.