How Much Does Obamacare Health Insurance Cost?
Average family of four will pay more than $14,000 in premiums
eHealth recently published its 2017 Health Insurance Price Index Report and it’s got some tough news for individuals and families that buy coverage on their own without Obamacare subsidies.
The report is an examination of costs and buying trends among more than 38,000 unsubsidized shoppers who selected new health insurance plans at eHealth during Obamacare’s 2017 open enrollment period (November 1, 2016 – January 31, 2017).
So, what does health insurance really cost in 2017?
- Individual premiums average $378 per month, an 18% increase since the 2016 open enrollment period, or a 39% increase since the first-ever Obamacare open enrollment period for 2014.
- Family premiums (for two or more people) average $997 per month, a 20% increase since 2016 or a 49% increase since the 2014 open enrollment period.
- For 2017, the average four-person family will spend more than $14,300 per year on premiums and if they have serious medical issues may face a family deductible of more than $8,000 on top of that.
Here’s what eHealth’s CEO Scott Flanders had to say:
“Anyone who still needs proof that health insurance costs are out of control should take a look at our 2017 Price Index Report. This is not affordable coverage by any rational standard.
“Middle-income Americans who purchase coverage on their own and do not qualify for subsidies under current law are straining under the burden of costs like these,” Mr Flanders continued. “At eHealth we hear from them every day, and we work hard to match them with the best health plan available for their needs and budget. However, we continue to call on Congress and the President to take meaningful actions to bring affordability and stability to the individual and family health insurance market.”
Some additional highlights from eHealth’s 2017 Price Index Report:
- Deductibles averaged $4,449 for individuals and $8,232 for families. Annual deductibles for individual plans increased 2% compared to the 2016 open enrollment period while deductibles for family plans increased 3%.
- HMO-style plans now account for more than half of all plans selected by shoppers. The percentage of eHealth shoppers selecting HMO-style plans increased from 39% for 2014 to 53% for 2017; meanwhile the number of shoppers selecting PPO-style plans has decreased from 46% for 2014 to 22% for 2017.
- The popularity of silver plans increases. Silver plans accounted for 33% of all plans selected by eHealth shoppers for 2017 compared to 21% for 2014; meanwhile, the percentage of bronze plans selected by shoppers has dropped from 47% in 2014 to 43% in 2017.
For more information about eHealth’s Price Index Report, including important information about the report’s methodology, refer to the complete report hosted in eHealth’s Media Center or eHealth’s May 3, 2017 press release.