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Average 2018 Premium on the Health Insurance Exchange (Feb. 2019)

On average, individual premiums were under $600 per month for a plan on last year’s health insurance exchanges, as of February 2019. Across all states, the average premium was $594 for the plans selected by individuals. About 87% of people received the Advance Premium Tax Credit (APTC) (which is based on income) to bring the net cost to individuals, down to about $80 per month.  The difference (about $514 per month) is covered by the government (“Obamacare”). Average cost varied by state, with 8 states (IN, MA, MI, MN, ND, NM, RI, UT) and DC having average monthly premiums under $500, before factoring in the APTC. The best average net costs to individuals receiving the APTC were in OK ($18), NE ($25), IA ($31), UT ($34), MS ($37), and ID ($44 per month). Highest average premium states were Wyoming at $943 ($48 with premium tax credit), West Virginia at $928 ($166 with premium tax credit) and Iowa at $913 per month. The national average premium of $594.17 per month works out to $7,130 premium cost per year. Source report from CMS, August 12, 2019, Early 2019 Effectuated Enrollment Snapshot.

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