The costs of health care are often substantial and they can vary from one year into the next. The medical costs of one family may be higher than the other, even if they both have the same health insurance.
You can use a tool, such as KFF's Marketplace Calculator, to find an affordable plan of health insurance that meets your needs and fits within your budget. The site includes information on cost-sharing, deductibles and maximums.
Average Health Insurance Deductible
A deductible refers to the amount of money you have to pay yourself before your insurer will start 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 that point, your health insurance company pays for the rest of the cost.
You can choose a high deductible health plan, or a low-deductible one. Low deductible plans usually have lower premiums but will cost you more if you fall ill or need to pay for a medical emergency.
The most expensive plans for individuals and families have an annual deductible of at least $1,700. Lively CEO Ryan Wiik said that Obamacare based plans had the highest average deductibles.
If you're not a frequent user of medical services or don't need prescriptions on a regular basis, a bronze level health insurance plan may be a good option for you. It's relatively cheap. Bronze-tier policies have higher deductibles. However, the premiums can be lower. Some bronze-tier policies have deductibles that are equal to the $7,900 limit on out-of pocket expenses set by law in 2019.