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Average cost of health insurance plans by age
The monthly cost of health insurance is $589 for a 21-year-old who pays full price. Rates go up to $752 at age 40 and $1,598 at age 60.
Find Cheap Health Insurance Quotes for Your Age
Find Cheap Health Insurance Quotes for Your Age
Age is one of the biggest factors for setting the cost of your health insurance.
- Older adults pay more for health insurance: Insurance companies set higher rates when you're in your 50s and 60s because you usually need more medical care as you get older. By charging more each month, the insurance company is calculating that it will collect enough money across all policies to pay for the medical bills of its customers.
- Cheaper health insurance when you're young: Health insurance is cheapest for young adults, teenagers and children. Young people are less likely to need the same level of medical care as seniors.
However, you may not have to pay full price for health insurance if you buy a plan from Healthcare.gov or your state's health insurance marketplace. If you make between $15,650 and $62,600 as an individual, $21,150 and $84,600 as a couple, or $32,150 and $128,600 as a family of four, you may qualify for subsidies that make health insurance cheaper. And when you reach age 65, you likely won't need a regular health insurance plan anymore. You can get on Medicare, which is generally cheaper.
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