How Much is Obamacare a Month for a Single Person: Plans & Factors Affecting

Obamacare insurance prices about $584 per month. It is also referred to as Affordable Care Act (ACA) insurance or Marketplace insurance.
But the answer to your query – How Much is Obamacare a Month for a Single Person? may vary with different factors too. Lets first know plan tiers then we will discuss the factors affecting.

Different Obamacare Monthly Plan Tiers

There are several plan tiers namely- Gold, Platinum, Silver, Platinum, Bronze and Catastrophic which offer health insurance coverage to you.
Among these the Silver Plan is more promising with lower costs and higher benefits. As it reduces out-of-pocket costs including Co-pay & Co-insurance amounts.

  • Platinum: $813 per month
  • Gold: $641 per month
  • Silver: $584 per month
  • Bronze: $462 per month
  • Catastrophic: $335 per month

At lower pricing Bronze offers you lesser coverage, this means it pays lesser medical bills than other plan tiers. Also, you can’t enjoy tax credits on Catastrophic Plans.

Factors affecting Obamacare Costs & Pricing

You know, the monthly cost of Obamacare varies with Plans, Age of insurer and even number of family members too! So, have a look at the determining factors. Whether the Insurance provider belongs to HMO, EPO or PPO network type also changes the cost of Obamacare a month for a single person.

Different factors affecting Obamacare pricing & costs are –

  • Most dominant factor is the Plan tier you choose. The more coverage benefits the higher the pricing of Plan tier.
  • The age is determining factor too, older citizens need more medical care than younger ones.
  • Whether your location has too many companies offering Marketplace insurance or not. It may lower the pricing if several companies offer insurance plans.
  • Number of Candidates in a family also impact Obamacare costs. More number of candidates in family offer more Insurance coverage price.
  • The more number of plan tiers you choose from the higher is the cost of Health insurance.
  • Use of Tobacco, the people using Tobacco need more medical care than the ones with the more pricing. Hence, the pricing for Tobacco smokers is also higher.
  • Your residential State impacts Obamacare pricing. Local laws affect the pricing for Obamacare. It is $584 monthly in Albama, while $461 in Arksanas.
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How to get Obamacare at cheaper rates?

On the grounds of income level some families may get Obamacare at lower rates. This is offered as Premium Tax credits or subsidies to families with lower monthly earnings, to get health coverage benefits.

Some Government schemes also offer free Obamacare services, provided your income ranges between 100% to 150% of the Federal Poverty level.

Is Obamacare based on individual income?

Obamacare offers subsidies to families with income level lower than the laid poverty level. The subsidies provided under ACA (Affordable Care Act) are considered based on the income sources of each individual in the family. Besides, family with 2 people must have income below $19,720, while that with single family member it is $14,580. The family of four must have income level below $30,000. And families with 8 members and income lower than $50,560 can get Obamacare subsidy.

Note: Families with four times more income than laid federal poverty level can’t avail subsidy.

Remain assured with Obamacare’s coverage. It doesn’t matter which plan you choose Obamacare is getting you covered medically.