The average cost of health insurance in the state of Georgia depends on a number of factors, such as the type of plan you choose and the region in which you live.
For an individual aged 18-64, the average cost of health insurance in Georgia was approximately $541 per month, as of April 2020. A family of four can expect to pay an average of $1,336 monthly for a health plan. These figures include employer-provided plans as well as plans available through the Affordable Care Act (ACA) Marketplaces in Georgia.
Your costs for health insurance are also subject to change based on how you choose to customize your coverage. Higher premiums take into account coverage with lower deductibles and copays, while a lower premium may require a higher deductible or copays.
Deductibles are the amount you are required to pay out-of-pocket before your health insurance company will cover care services. Higher deductibles can reduce premiums, however, the cost of accessing care is also higher in this scenario.
Copays are the amounts you are required to pay for certain services. Copays are usually a fixed flat fee (for example, $20 for a doctor’s visit) and are covered by your health insurance plan.
If you decide to sign up for a health plan through the ACA Marketplace in Georgia, you should know that the premiums you pay are based on your income, with the subsidy amount determined by your state.
In addition, there are certain federal rules that you should be aware of when selecting a health plan, such as limits on balancing bills, which occur when you are charged more than the amount allowed by your plan.
Overall, the cost of health insurance can vary depending on the type of plan you choose and the region in which you live. It is important to know your plans specifics, including deductibles and copays, before making any decisions on what health plan to decide on. Additionally, remember to research the options available through the ACA marketplace in your state to see if you are eligible for a subsidy to help cover the monthly costs.
