NEW YORK, Nov. 22, 2021 /PRNewswire/ -- A
new ValuePenguin.com analysis has found that in 2022,
Americans will spend an average of $541 per month, or $6,492 per year on health insurance if they get
an Affordable Care Act (ACA) plan via state or federal health
exchanges. Health Insurance costs have remained mostly steady -
with just a 0.67% ($48/year) increase
in average premiums from 2021, but analysts found significant
variations across states, and health insurance plan type:
- West Virginia, South Dakota, Wyoming, Vermont and Louisiana residents will pay the highest
health insurance premiums in 2022 — premiums here are
53.72%, 50.02%, 41.32%, 40.58% and 34.67% above the national
average.
- Georgia, New Hampshire, Maryland, Minnesota and Colorado residents will pay the lowest health
insurance premiums in 2022 — premiums here are 42.84%,
33.41%, 32.48%, 28.05% and 24.34% below the national average.
- South Dakota, West Virginia, New
Mexico, Arizona and
Texas will experience the biggest
jump in health insurance costs in 2022 — marketplace
plans here are 23.07%, 19.74%, 17.36%, 13.81% and 12.97% more
expensive in 2022 when compared to 2021.
- Georgia, South Carolina and Nebraska will see health insurance costs
decrease the most in 2022 — marketplace plans here are 41.37%,
16.15%, and 11.27% cheaper in 2022 when compared to 2021.
- Platinum tier health insurance plans saw the biggest drop in
premiums for 2022, compared to other types of plans,
falling 4.35%. Expanded Bronze and Bronze tier health plans saw the
sharpest increase in premiums, rising 3.21% and 2.47% in 2022.
According to ValuePenguin Health Insurance expert Robin Townsend,"Nationally, the cost of
full-price Affordable Care Act (ACA) plans rose by less than 1% for
2022. For states with larger rate increases, insurers cite an
overall jump in health care costs, including prescription drug
prices, as drivers." She adds, "Other factors mentioned by insurers
include the ongoing COVID-19 pandemic, with an increase in vaccine
administration and the impact of the delta variant prompting higher
rates in 2022."
ValuePenguin 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,
average costs per state were calculated from silver plans for
40-year-olds. Plans and providers for which county-level data was
included in the CMS' Crosswalk file were used in this analysis -
those excluded from this dataset may not appear.
To find out how much health insurance will cost in your state in
2022, visit:
https://www.valuepenguin.com/average-cost-of-health-insurance
About ValuePenguin.com: ValuePenguin.com, part of
LendingTree (NASDAQ: TREE), is a personal finance website that
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
information, please visit www.valuepenguin.com, like our Facebook
page or follow us on Twitter @ValuePenguin.
Additional Information on Affordable Care Act (ACA) Health
Plans: https://www.valuepenguin.com/health-insurance
Media Contact:
Divya Sangam (Ms.)
646 693 8445
Divya@lendingtreenews.com
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SOURCE ValuePenguin.com