How Health Insurance Marketplace Plans Set Your Premiums

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Plan category: There are five plan categories – Bronze, Silver, Gold, Platinum, and Catastrophic. The categories are based on how you and the plan share costs. Bronze plans usually have lower monthly premiums and higher out-of-pocket costs when you get care. Platinum plans usually have the highest premiums and lowest out-of-pocket costs.
Source: healthcare.gov

What Is a Health Insurance Premium?

A number of factors impact the premiums you pay for health insurance. For instance, employer groups typically obtain lower prices relative to what individuals get on their own. The insurance company provides that discount because there is an advantage in acquiring a 500- or 1,000-employee customer base as opposed to an individual customer. In general, rising single and group policy rates were a major factor in the introduction of the Affordable Care Act. As of January 2015, average family premiums were $16,800 per year.
Source: sapling.com

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