How much will health insurance cost me in the Marketplace?
Online calculators help estimate health insurance premiums in the Marketplace.
How much will health insurance cost in the Marketplace? This seems to be a big question for many consumers. The Affordable Care Act mandates that most people are insured either through their employer or by purchasing their own policy. Beginning in October 2013, options were available through a Health Insurance Marketplace in every state for purchasing insurance. The Marketplace enrollment for 2014 coverage continues until March 31, 2014.
Two online calculators may assist consumers estimate the cost of their health insurance premium as they comparison shop different health insurance plans. You can get into the Marketplace web site www.healthcare.gov to use a price estimator for your state and county. You can also see the available plans and premiums before any subsidy without setting up an account.
You can also use the Kaiser Family Foundation Subsidy Calculator. With this calculator, you can enter your zip code, different income levels, ages, family sizes and tobacco use to get an estimate of your eligibility for subsidies and how much you could spend on health insurance in the Marketplace. Income, age, family size, geographic location and tobacco use are the criteria the Marketplace uses to determine premiums for your eligible health insurance plans. There are also tax credits available for low- and middle-income families.
As premiums and eligibility requirements may vary, contact these resources with enrollment questions:
- the Michigan Department of Human Services for questions about Medicaid
- Michigan Healthcare Information www.michigan.gov/healthcarehelp
- Michigan Department of Insurance and Financial Services www.michigan.gov/difs or Helpline at 1-877-999-6442
- Learn local sites of Navigator and Certified Application Counselors for individual Marketplace enrollment assistance at and
I have heard from a local Navigator that some folks that have successfully enrolled through the Marketplace have been pleasantly surprised with the affordability of the health insurance plan they chose.
For more answers to your questions about health insurance, go to healthcare.gov Q&A or the Health Insurance FAQs - eXtension. Also see previous news articles about health insurance choices on the Michigan State University Extension website. MSU Extension is providing education about health insurance basics this fall, including the why, what and how for making a smart decision. Find out about Smart Choice: Health Insurance workshops and factual information on the Affordable Care Act Roadmap.