Obamacare costs an average of $584 per month for 2024, based on a 40-year-old with a Silver-level plan.
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The average rate increased by 4% compared to 2023. Several factors affect the cost of Obamacare plans, also called Affordable Care Act plans, including your age, the level of coverage you buy, your state and the company you choose. You might also qualify for a premium tax credit that makes your policy cheaper.
How much is Obamacare marketplace insurance?
Obamacare insurance, also called Affordable Care Act (ACA) insurance or marketplace insurance, costs an average of $584 per month. The average cost of health insurance is based on a 40-year-old with a Silver plan. Your health insurance premium will change based on your circumstances.
Most people don't pay full price for Obamacare. Over 90% of people who buy an Obamacare plan get premium tax credits that lower the cost of coverage. The Centers for Medicare & Medicaid Services (CMS) reports that 4 out of 5 shoppers have access to a plan that costs less than $10 per month after the credits are applied.
Monthly Obamacare cost by plan tier
Obamacare policies come in different coverage levels, called tiers. Gold and Platinum plans cost more per month and cover more of your medical costs. If you go to the doctor often, these plans are a good option. The higher monthly rate can be offset because these tiers pay a higher share of your medical bills.
Bronze and Catastrophic plans have cheaper rates but give you less coverage. That means you pay less each month, but you have to pay more when you go to the doctor. These plans can be good if you are young, healthy and don't need much medical care. But keep in mind that Catastrophic plans are ineligible for premium tax credits.
Silver plans are a good choice for most people. You'll likely pay a bit more for a Silver plan than you would for a Bronze or Catastrophic plan, but Silver plans will pay for more of your medical bills. No matter what plan level you choose, your policy will cover at least 10 different health situations. The plan level determines how much of your medical costs are covered.
Cost of Obamacare marketplace insurance by plan tier
Average monthly costs are for a 40-year-old.
Silver plans have the added perk of cost-sharing reductions if you meet certain income requirements. This feature can help lower your out-of-pocket medical costs, like your deductible, copay and coinsurance amounts.
Monthly Obamacare cost by age
Your age has a large impact on the cost of health insurance. Older individuals pay more for health insurance because they tend to need more medical care.
Cost of Obamacare marketplace insurance by age
Average monthly cost of a Silver plan
The following states and Washington, D.C., calculate rates for different age groups differently than the rest of the country.
If you live in New York or Vermont, your age won't affect your health insurance rates at all.
Monthly Obamacare cost by company
Kaiser Permanente and Molina have the lowest average rates for health insurance.
If you're looking for cheap health insurance, get quotes from these companies if they're available in your area. Most of the largest health insurance companies have average rates below the national average.
Getting health insurance quotes from a marketplace site lets you compare different companies in one place. You also have to get your policy from the federal marketplace or a state marketplace site to qualify for premium subsidies. If you buy coverage directly from a health insurance company, you won't get a discounted rate based on your income.
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Health insurance companies can set their own rates. This means the cost of the same plan tier will vary between companies. Comparing companies and quotes is the best way to find a policy that fits your budget.
Cost of Obamacare marketplace insurance by company
Monthly Obamacare cost by state
New Hampshire is the cheapest state for Obamacare, and Alaska is the most expensive.
But Oregon's rates increased the most between 2023 and 2024. And South Dakota had the largest rate decrease. Nationally, health insurance costs 4% more for 2024 compared to 2023.
The state you live in affects the cost of Obamacare in several ways. State and local laws can affect how the health insurance industry works. Additionally, the cost of medical care in each state can change how much a health insurance policy costs. The more expensive it is to get care, the higher your Obamacare rate is likely to be.
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Cost of Obamacare marketplace insurance by state
Monthly Obamacare cost by network type
A health insurance provider network defines where you can get covered medical care. The most common network types are health maintenance organizations (HMOs) and preferred provider organizations (PPOs). Other plan types, like point of service (POS) plans and exclusive provider organization (EPO) plans, are less common.
HMO plans will only pay if you go to in-network doctors and hospitals. If you go outside the network, you won't have any coverage, except in emergencies. Because they restrict where you get care, HMOs have the lowest monthly cost. PPOs cost more because they allow you to get care at any location, although you'll usually pay more for visits to out-of-network providers.
Average monthly cost for a 40-year-old. POS plans are not included because of a lack of state-level data.
What affects Obamacare insurance costs?
The Affordable Care Act limits the factors that health insurance companies can consider when setting your rates. Under the law, only five things can affect your monthly rate.
- Plan tier: Plans with less coverage have a lower monthly rate, but you'll pay more when you go to a doctor.
- Age: The older you are, the more you'll pay for health insurance. Younger people usually need less medical attention, so they pay less for coverage.
- Location: The cost of living and the cost of medical care in your state and city affect your health insurance rate. The number of companies selling plans in your area can also be a factor.
- Number of people insured: It costs more to insure more people. A family of four will pay more than a single person.
- Tobacco use: Tobacco use can result in health problems, so health insurance companies can charge more if you smoke or use tobacco in another way.
Some states have banned or restricted the use of age or tobacco use to set health insurance rates.
How to get cheaper Obamacare
If you buy your Obamacare policy from the federal marketplace or a state marketplace, you may qualify for a premium tax credit based on your income. These credits, also called subsidies, are designed to help low-income individuals get health insurance coverage.
To qualify, your annual income has to be at least $14,580, which is the federal poverty level for a single individual. The more people you have in your household, the more you can make and still qualify for a subsidy. If you make more than four times the federal poverty level, you usually won't qualify for a subsidy.
Minimum income to qualify for Obamacare subsidies
People in household
Federal poverty level
Federal poverty levels are higher in Alaska and Hawaii.
If you make between 100% and 150% of the federal poverty level, a federal subsidy will make your Obamacare free. For a single person, that means making between $14,580 and $21,870 per year. A family of four can make between $30,000 and $45,000 per year and get Obamacare for free.
Even if you don't qualify for free Obamacare, a subsidy can still save you money.
Frequently asked questions
What is Obamacare?
Obamacare is another name for the Affordable Care Act (ACA), which is a law that helps make it easier to get health insurance coverage. Although most health insurance plans have to follow the law, "Obamacare" usually refers to a health insurance plan that you buy on the federal marketplace or a state marketplace.
How do I sign up for Obamacare?
To sign up for Obamacare, go to HealthCare.gov. You'll need to enter some basic information, including your date of birth and your ZIP code, to see the plans available in your area. Most people can only sign up for Obamacare during open enrollment in the fall and early winter. You might qualify for special enrollment, which means you can sign up outside the open enrollment period if you meet certain requirements, like recently moving, losing coverage through your job or getting married.
How much does the average person pay for Obamacare?
Obamacare costs an average of $584 per month for a 40-year-old with a Silver plan. Your age affects your monthly rates. A 20-year-old pays an average of $443 per month for a Silver plan, while a 60-year-old pays an average of $1,240 per month, before subsidies. Many people don't pay full price because they qualify for premium subsidies based on their income.
How much is Obamacare per month?
A Silver plan costs an average of $584 per month for a 40-year-old. Your premium changes based on the plan tier you choose. A Bronze plan costs $462 per month, on average, while a Platinum plan is $813 per month. Your age, state, family size and tobacco use can also impact how much you pay monthly.
What is the lowest income to qualify for Obamacare?
You can qualify for Obamacare coverage at any income level. But you have to make at least 100% and typically no more than 400% of the federal poverty level to qualify for the premium subsidies that reduce your rate. A single person has to make between $14,580 and $58,320 per year to qualify for subsidies. For a family of four, the range is $30,000 to $120,000 per year.
Methodology and sources
Average health insurance rates for 2023 and 2024 were calculated using public use files (PUFs) data from the Centers for Medicare & Medicaid Services (CMS) government website and from state-run marketplace sites. Plans and providers for which county-level data was included in the CMS Crosswalk file were used in our analysis; those excluded from this data set may not appear.
Average rates for each plan tier, company, state and network type are for a 40-year-old individual. We calculated average rates for different ages based on the data about health insurance rates by age published by CMS.
The percentage of marketplace plans with federal subsidies was sourced from KFF.