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Average 2021 Premium on the Health Insurance Exchange (Feb. 2021)

On average, 2021 individual premiums were under $600 per month for a plan on last year’s health insurance exchanges, as of February 2021. Across all states, the average premium in February was $575 for the plans selected by individuals, about the same as in the prior year. About 86% of people received the Advance Premium Tax Credit (APTC) (which is based on income) to bring the net cost to individuals, down to about $89 per month. The difference (about $486 per month) is covered by the government (“Obamacare”). Average cost varied by state. Eleven (11) states (CO, MA, MD, MI, MN, ND, NH, NM, RI, UT, WA) had average monthly premiums under $500, before factoring in the APTC. Utah was the only state to have an average monthly premium under $400 before the tax credit. Highest average premium states were West Virginia at $1,036 ($204 per month, with premium tax credit), Wyoming at $865 ($47 with premium tax credit) and Louisiana at $741 per month ($113 with APTC). The national average premium of $574.59 per month works out to $6,895 premium cost per year. Source report from CMS, June 5, 2021, Early 2021 Effectuated Enrollment Snapshot.

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