How Much is Individual Health Insurance?

How Much is Individual Health Insurance?

Have you ever considered buying health insurance? If you have, then you probably have a good idea, assuming you have previously done some research. When shopping around, many people are in awe of individual health insurance prices, as some of them can be sky high and feel out of reach. 

And while there are many reasons to buy health insurance, some people don’t want to pay the high price that often comes with it. But just because you don’t want to buy expensive health insurance doesn’t mean you can’t get the coverage you need and still save money.

The Cost of Individual Health Insurance

Individual health insurance costs vary according to personal coverage choices and factors. These include age, income, location, number of family members covered, and healthcare use. In 2020, the average cost of health insurance for an individual was $456, but prices vary based on the health plan you choose.

To find the cost of one individual’s health insurance, you should consider different things. These include:

·        Income bracket

·        Lifestyle factors, including the use of tobacco and other drugs

·        The health insurance company

·        Age of the insurance buyer

·        Zip code of the insurance buyer

·        The insurance plan type

·        Where the insurance buyer lives

You can obtain a reliable estimate of your costs once you know a few numbers. These are your prospective health plan’s premiums, deductibles, cost-sharing expenses, and maximum out-of-pocket expenses. The information obtained can help you compare health insurance plan prices. A licensed insurance broker can help you find an affordable health plan that meets your needs.

Average Cost of Individual Health Insurance Per State

Your location can determine your spending on your health insurance policy, as premiums vary from state to state. Knowing this gives you a clear estimate to the question of how much is individual health insurance. Here are the 2022 rates of individual health premiums per state.

StateMonthly CostAnnual Cost% Difference From AverageNational
West Virginia$831$9,97253.72%
South Dakota          $811$9,73250.02%
Alaska$715 $8,580         32.26%
New York          $713 $8,55631.89%
Nebraska          $685 $8,220         26.71%
Oklahoma          $635 $7,620         17.46%
North Carolina          $634 $7,60817.28%
Missouri          $620 $7,440         14.69%
Florida $585 $7,0208.21%
Alabama          $579 $6,9487.10%
Nevada$578 $6,9366.92%
Arizona$577 $6,9246.73%
Texas$575 $6,9006.36%
Connecticut          $564 $6,7684.33%
Utah $563 $6,756         4.14%
Illinois$556 $6,672         2.85%
Delaware$555 $6,6602.66%
California$537 $6,444         -0.67%
New Jersey$537 $6,444         -0.67%
Massachusetts$535 $6,420         -1.04%
Kansas$534 $6,408         -1.22%
Iowa$533 $6,396         -1.41%
North Dakota$524 $6,288         -3.07%
Idaho$516 $6,192         -4.55%
Wisconsin$514 $6,168         -4.92%
Virginia$512 $6,144         -5.29%
Mississippi$511 $6,132         -5.48%
Tennessee$508 $6,096         -6.03%
Pennsylvania$498 $5,976-7.88%
Hawaii$490 $5,880         -9.36%
Ohio$490 $5,880         -9.36%
New Mexico$480 $5,760         -11.21%
Montana$479$5,748         -11.39%
Kentucky$478 $5,736         -11.58%
Oregon$475 $5,700         -12.13%
Maine$465 $5,580         -13.98%
Washington$443 $5,316         -18.05%
South Carolina$436 $5,232         -19.35%
Indiana$433 $5,196         -19.90%
Arkansas$419 $5,028         -22.49%
Rhode Island$413 $4,956         -23.60%
Michigan$410 $4,920         -24.16%
Colorado$409 $4,908         -24.34%
Minnesota$389$4,668         -28.04%
Maryland$365$4,380         -32.48%
New Hampshire$360$4,320         -33.41%
Georgia$309$3,708         -42.84%