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Finding Affordable Health Insurance In Florida

Alvin Nelson
March 17, 2021
Alvin Nelson

affordable health insurance florida

Affordable health insurance in Florida comes in several varieties, so it's vital to know your options before you start to search online for the best rates. Whether it's for an individual or a family of four, the price of the health insurance plans available in the state is on par with the rest of the country.

But it's not easy to find the best rates without an easy, simple-to-understand way to compare the cost of health coverage. That's why this article first goes through the basic concepts of how to find health insurance in Florida without too much trouble.

The main sticky point is usually choosing between a private health plan or a plan through the federal government's HealthCare.gov website. The amount of savings possible depends on a wide variety of factors, such as age and being in good health overall.

A reminder: No insurance carrier can deny you, or charge you more, simply because you have a pre-existing health condition, but your status as a smoker will affect how much you pay overall.

Mostly, it depends on whether or not you choose to take advantage of the subsidies in the Affordable Care Act to offset the price of monthly premiums.

Floridians can find the best rates on individual health insurance and family health insurance if they keep in mind the following.

Where do you start to find the best affordable health insurance in Florida?

Finding health insurance in Florida depends on knowing what you're paying for well ahead of time. Otherwise, you could be in for some sticker shock when you need to pay your first deductible.

Overall, you should always carry more health insurance than you believe you might need, primarily if you work in a risky occupation like construction.

Above all, the most crucial distinction with any health plan is whether the coverage is for an individual or a group, most often a family.

What is individual health insurance?

Individual health insurance only covers one policyholder, so usually, these insurance policies are more affordable but might come with more exclusions – and a higher deductible.

Some individual health policies also offer the bare minimum benefits to provide the lowest price, but carrying one of these policies isn't the norm. Usually, people choose a plan with more services to account for unexpected medical expenses.

Also, a bare minimum insurance policy, also known as a "catastrophic plan," doesn't meet the federal mandate that all adults carry sufficient health coverage. But a short-term health plan may or may not fulfill the "Obamacare" requirements for essential health benefits.

What is family health insurance?

On the other hand, family health insurance is when the plan covers multiple individuals without the need for each family member to carry their own policy.

One of the most attractive benefits of family health insurance is that they come with more comprehensive coverage, such as lower co-pays and deductible. Specific family health plans also include lower prescription drug costs for generic medications.

One major factor in selecting family health insurance is maternity care, which by law can't cost significantly more since pregnancy qualifies as a pre-existing condition.

What's the average cost of health insurance in Florida?

The average cost of health insurance in Florida is currently about $5,600 per year for an individual in good health, according to our research. Nationally, health insurance costs a family $1,152 on average.

It's critical to note that these costs don't include added expenses like the cost of visits to a specialist that may come with a higher co-payment.

How do insurance companies price health insurance policies?

The essential elements of an insurance policy's costs are:

  • Premiums
  • Deductibles
  • Added expenses (co-payments)

It's common to confuse each one, so here's a reminder of what makes them distinct.

Premiums

A premium is a monthly price to keep the insurance policy active and in good standing. You could also pay premiums annually, but for the most part, consumers choose to pay month-to-month rather than incur a one-time expense of several thousand dollars.

The most important takeaway is that the price of premiums can vary widely from insurer to insurer, so it's vital to make sure you understand the difference between a premium and a deductible.

Deductibles

A deductible is an amount you'd need to pay before you can claim any benefits, even seeing a doctor for the first time; however, choosing a policy with a low deductible always comes with a higher premium.

Additional expenses

What might confuse you about health insurance in Florida is that all policies – individual plans and family plans – may or may not cover co-payments. Of all the ways to price out insurance, forgetting about additional out-of-pocket expenses is the most common mistake.

That's why it's so critical to be able to compare policy benefits before choosing a plan that may or may not be inadequate or overpriced for your needs.

Where to go to compare rates Florida health insurance

Finding reliable information about the cost of insurance online is usually a time-consuming process no matter which state you live in, so that's why HealthPlans.com was created.

HealthPlans.com is the number one option for Florida residents who have the time to look around the Internet for savings on bargain health insurance. Instead, it gives individuals and families a new way to compares prices on health insurance in Florida. The best part is that the most critical information appears side-by-side, making it easier to compare the value of a particular policy.

Click here to start shopping for affordable health insurance in Florida today!

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Advertised Pricing:

There are several factors that impact your monthly premium; including your age, geographical location, annual income, dependents, and the type of plan you choose. Monthly premiums do not include out-of-pocket costs.

The advertised price may not be typical. It was generated using the Kaiser Family Foundation's subsidy calculator that was accessed on September 16, 2020. The following parameters were used: 21 year old adult, non-tobacco user, annual income of $24,700 in 2020, no children, and no available coverage through a spouse's employer. The resulting monthly premium was $30 per month (or $360 per year after $2,751 in subsidies) for a Bronze Plan. Even when using the same parameters, the resulting premium and subsidy calculations may be subject to change.