NEW YORK, Nov. 19, 2020 /PRNewswire/ -- With Open
Enrollment underway, a new ValuePenguin.com analysis has found that
in 2021, Americans will spend an average of $496 per month, or $5,952 per year on health insurance, if they
purchase a Health Insurance Marketplace plan. There was a slight
1.59% decrease in premiums from the 2020 plan year, but analysts
found significant variations across states, and health insurance
plan type:
- West Virginia, New York, Wyoming, Vermont and Louisiana residents pay the highest health
insurance premiums in the country — premiums here are 43.14%,
41%, 34.73%, 30.50% and 26.45% above the national average.
- New Hampshire, Maryland, New
Mexico, Minnesota and
Washington residents pay the
lowest health insurance premiums in the country — premiums here
are 32.55%, 30.19%, 29.68%, 27.26% and 20.66% below the national
average.
- Indiana, New Jersey and Delaware had the largest increase in health
insurance costs year over year — 10%, 9% and 8% respectively
($42, $43 and $37).
- Iowa, Maryland and Maine had the largest decrease in health
insurance costs year over year — 20%, 17%, and 15% respectively
($110, $69 and $78).
- Notably, New Jersey saw
rates increase 9% from 2020, after the introduction of their new
state run health insurance marketplace. Pennsylvania, which also introduced a state
run health insurance marketplace, saw health insurance costs
decrease 8% from 2020.
- The most restrictive health insurance policies - namely HMO
(health maintenance organization) and POS (point of service) saw
the biggest drop in premiums, compared to other types of plans,
falling close to 10.67% and 9.04% compared to 2020. By metal tier,
Bronze tier health plans saw the sharpest decrease in premiums,
falling 6.86% compared to the 2020 plan year.
According to ValuePenguin.com Health Insurance expert
Sterling Price, "Despite decreases
in average premiums nationally, most Americans will see their
premiums increase slightly for the 2021 plan year, due to
COVID-19." He adds, "Insurers are anticipating a surge in medical
claims from the many Americans who delayed surgeries or medical
procedures in 2020 due to the pandemic, and the COVID-19
Vaccination. These factors have led to some insurers adding a
slight bump to premiums for the 2021 plan year."
ValuePenguin.com analysts looked at the thousands of Health
Insurance plans available from the Centers for Medicare &
Medicaid Services. Using the rates and premiums for each plan,
averages were calculated for a variety of variables such as metal
tier, family size, county and state. To view the full report,
visit:
https://www.valuepenguin.com/average-cost-of-health-insurance
How Much Will
Health Insurance Cost In Your State in 2021?
|
Rank
|
State
|
Monthly
cost
|
Annual
cost
|
% Change from
National
average
|
2021
Average
(Monthly)
|
2020 Average
(Monthly)
|
% change
year over
year
|
1
|
West
Virginia
|
$712
|
$8,540
|
43.14%
|
$712
|
$666
|
6.82%
|
2
|
New York
|
$701
|
$8,413
|
41.00%
|
$701
|
$698
|
0.43%
|
3
|
Wyoming
|
$670
|
$8,039
|
34.73%
|
$670
|
$766
|
-12.54%
|
4
|
Vermont
|
$649
|
$7,786
|
30.50%
|
$649
|
$631
|
2.86%
|
5
|
Louisiana
|
$629
|
$7,545
|
26.45%
|
$629
|
$596
|
5.42%
|
6
|
Nebraska
|
$615
|
$7,379
|
23.68%
|
$615
|
$648
|
-5.17%
|
7
|
Massachusetts
|
$599
|
$7,184
|
20.41%
|
$599
|
$568
|
5.45%
|
8
|
California
|
$588
|
$7,056
|
18.27%
|
$588
|
$576
|
2.03%
|
9
|
Alaska
|
$572
|
$6,869
|
15.13%
|
$572
|
$614
|
-6.70%
|
10
|
Nevada
|
$566
|
$6,792
|
13.84%
|
$566
|
$556
|
1.85%
|
11
|
South
Dakota
|
$561
|
$6,730
|
12.79%
|
$561
|
$556
|
0.91%
|
12
|
Missouri
|
$548
|
$6,572
|
10.15%
|
$548
|
$578
|
-5.21%
|
13
|
New Jersey
|
$543
|
$6,521
|
9.29%
|
$543
|
$501
|
8.54%
|
14
|
Oklahoma
|
$539
|
$6,464
|
8.34%
|
$539
|
$588
|
-8.32%
|
15
|
Florida
|
$528
|
$6,336
|
6.19%
|
$528
|
$554
|
-4.75%
|
16
|
North
Carolina
|
$521
|
$6,247
|
4.70%
|
$521
|
$490
|
6.19%
|
17
|
Illinois
|
$517
|
$6,203
|
3.97%
|
$517
|
$537
|
-3.70%
|
18
|
Alabama
|
$514
|
$6,163
|
3.29%
|
$514
|
$488
|
5.21%
|
19
|
Delaware
|
$513
|
$6,154
|
3.14%
|
$513
|
$475
|
7.88%
|
20
|
Kansas
|
$511
|
$6,138
|
2.87%
|
$511
|
$517
|
-1.06%
|
21
|
Tennessee
|
$495
|
$5,937
|
-0.50%
|
$495
|
$491
|
0.73%
|
22
|
Texas
|
$492
|
$5,900
|
-1.12%
|
$492
|
$508
|
-3.18%
|
23
|
Arizona
|
$490
|
$5,877
|
-1.50%
|
$490
|
$487
|
0.66%
|
24
|
Georgia
|
$489
|
$5,874
|
-1.56%
|
$489
|
$490
|
-0.16%
|
25
|
Mississippi
|
$485
|
$5,821
|
-2.43%
|
$485
|
$500
|
-2.98%
|
26
|
Utah
|
$477
|
$5,730
|
-3.97%
|
$477
|
$493
|
-3.22%
|
27
|
Idaho
|
$477
|
$5,723
|
-4.08%
|
$477
|
$485
|
-1.76%
|
28
|
Kentucky
|
$470
|
$5,641
|
-5.46%
|
$470
|
$455
|
3.30%
|
29
|
Oregon
|
$467
|
$5,603
|
-6.09%
|
$467
|
$441
|
5.81%
|
30
|
South
Carolina
|
$462
|
$5,550
|
-6.98%
|
$462
|
$501
|
-7.67%
|
31
|
Indiana
|
$462
|
$5,543
|
-7.10%
|
$462
|
$420
|
9.92%
|
32
|
Wisconsin
|
$461
|
$5,527
|
-7.37%
|
$461
|
$486
|
-5.16%
|
33
|
Iowa
|
$451
|
$5,411
|
-9.32%
|
$451
|
$561
|
-19.56%
|
34
|
Montana
|
$449
|
$5,393
|
-9.62%
|
$449
|
$448
|
0.32%
|
35
|
Pennsylvania
|
$449
|
$5,218
|
-9.69%
|
$449
|
$471
|
5.00%
|
36
|
Hawaii
|
$446
|
$5,353
|
-10.27%
|
$446
|
$456
|
-2.09%
|
37
|
Virginia
|
$443
|
$5,318
|
-10.87%
|
$443
|
$466
|
-4.93%
|
38
|
Ohio
|
$435
|
$5,223
|
-12.46%
|
$435
|
$456
|
-4.56%
|
39
|
Maine
|
$431
|
$5,172
|
-13.32%
|
$431
|
$509
|
-15.32%
|
40
|
Arkansas
|
$426
|
$5,112
|
-14.33%
|
$426
|
$405
|
5.18%
|
41
|
Rhode
Island
|
$417
|
$4,999
|
-16.22%
|
$417
|
$387
|
7.64%
|
42
|
North
Dakota
|
$410
|
$4,923
|
-17.49%
|
$410
|
$387
|
6.13%
|
43
|
Michigan
|
$402
|
$4,828
|
-19.08%
|
$402
|
$417
|
-3.49%
|
44
|
Washington
|
$394
|
$4,734
|
-20.66%
|
$394
|
$409
|
-3.50%
|
45
|
Minnesota
|
$362
|
$4,340
|
-27.26%
|
$362
|
$362
|
-0.20%
|
46
|
New Mexico
|
$350
|
$4,196
|
-29.68%
|
$350
|
$364
|
-3.89%
|
47
|
Maryland
|
$344
|
$4,122
|
-30.91%
|
$344
|
$413
|
-16.75%
|
48
|
New
Hampshire
|
$335
|
$4,024
|
-32.55%
|
$335
|
$383
|
-12.38%
|
About ValuePenguin.com: ValuePenguin.com, part of
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conducts in-depth research and provides objective analysis to help
guide consumers to the best financial decisions. ValuePenguin
focuses on value, assessing whether the return of a particular
decision is worth the cost or risk of that option, and how this
stacks up with the other possible choices they may have. For more
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Additional Information:
https://www.valuepenguin.com/health-insurance
Media Contact:
Divya Sangam (Ms.)
646 693 8445
Divya@lendingtreenews.com
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SOURCE ValuePenguin.com