In 2024, according to NY Health Exchange, the average monthly health insurance premium for a Family (2 parents + 1 child) is $2237 a month at the Bronze level, representing a 17.9% increase from 2023. This increase is a record in a decade.
How Much is Family Health Insurance Per Month in New York?
In a snapshot view of the health insurance landscape in New York for 2024, there have been notable changes across different tiers of family plans. The average monthly premium for family plans is expected to increase by 16.7%, rising from $2,588 in 2023 to $3,020 in 2024.
The least significant increase was observed in the Catastrophic-tier plan, which only elevated by 16.3% from $1,024 in 2023 to $1,191 in 2024. Conversely, the Gold-tier plan has seen the most drastic surge in cost, with an increase of 38.2% from $2,445 to $3,378.
Interestingly, the Silver-tier plan is the only category to have witnessed a decrease in cost, dropping by 4.1% from $2,976 in 2023 to $2,854 in 2024.
The premiums' range for 2024, spanning different insurance tiers, is anticipated to be from $763 at the lowest end to a high of $7,088. This data offers a comprehensive perspective on the shifting costs of family health insurance plans in New York for the year 2024, indicating that families must strategically plan based on these forecasts.
| Family Plans | 2023 Monthly Premium | 2024 Monthly Premium | Increase | Lowest | Highest |
|---|---|---|---|---|---|
| Catastrophic | $1,024 | $1,191 | 16.3% | $763 | $1,974 |
| Bronze | $1,898 | $2,237 | 17.9% | $1,764 | $3,738 |
| Silver | $2,976 | $2,854 | -4.1% | $2,197 | $4,855 |
| Gold | $2,445 | $3,378 | 38.2% | $2,788 | $5,850 |
| Platinum | $3,708 | $4,221 | 13.9% | $3,344 | $7,088 |
| Grand Total | $2,588 | $3,020 | 16.7% | $763 | $7,088 |
Can I Get The Catastrophic Plan Since It's The Cheapest?
the requirements for a Catastrophic plan varies by state, but generally, the family members must be under 30 OR some people 30 and older may buy a Catastrophic health plan if they have a hardship or affordability exemption based on a Marketplace or job-based insurance affordability determination.
It's vital to note that Catastrophic plans cover three primary care visits per year before the deductible is met. Also, prevention services are covered free of charge. After the deductible is met, it pays for all healthcare services, but the family has to pay all their medical costs up to a certain amount in a year.
What if I am under 30 and my partner is over 30?
If a family consists of one member who is over 30 and another who is under 30, the person under 30 may be eligible for a Catastrophic plan. However, the individual who is over 30 would need a hardship or affordability exemption based on a Marketplace or job-based insurance affordability determination to be eligible for a Catastrophic Plan.
This means that the family may need to apply for separate policies. The member who is over 30 might explore other plan options in the Marketplace that could better suit their requirements.
What If I Can't Afford Anything? Are There Alternatives?
New York State provides several options for low-income individuals and families who may not be able to afford traditional health insurance plans. These include Medicaid, Essential Plan, Child Health Plus, and programs for Women’s Health.
- Medicaid: If your income is low enough, you might qualify for Medicaid. It covers a very wide range of health services and comes with very low or no premiums and copays. The income limit varies depending on your family size, age, and other factors.
- Child Health Plus: Available to all children under the age of 19 regardless of immigration status, it has monthly premiums based on income and covers a full range of health services.
- Women’s Health programs: These offer free breast and cervical cancer screenings for eligible women living in New York State.
- Mira: if you are relatively healthy, Mira could make a great fit at $135/ every 3 month.
Update to NY State Health Insurance Penalty
Lastly, you do not need to worry about being penalized for not having health insurance in New York. This is because the Individual Shared Responsibility Provision, sometimes called the individual mandate, which required people to have health insurance or pay a penalty, was effectively eliminated in 2019 on a federal level. As of now, New York State has not imposed its own health insurance mandate.
How Much Is Family Deductible for 2024?
A deductible is the amount you pay for healthcare services before your health insurance begins to cover the costs. It's a set amount you have to meet each year and it's part of your health insurance plan. The deductible resets annually, typically at the beginning of the policy year or calendar year.
If you are thinking about deductibles in the context of a family health insurance policy, it's important to understand that family policies usually have two types of deductibles: an individual deductible and a family deductible.
| Family Plans | Deductible | Annual Premiums |
|---|---|---|
| Catastrophic | $18,900 | $14,287 |
| Bronze | $9,600 | $26,849 |
| Silver | $4,200 | $34,242 |
| Gold | $1,200 | $40,537 |
| Platinum | $0 | $50,656 |
An individual deductible is the amount that each person in the family must meet before the insurance company starts paying for that individual's healthcare costs. The family deductible, on the other hand, is the total amount that the family as a whole must pay before the insurance company starts covering costs. Once the family deductible is met, health insurance will kick in for every member of the family, even if they have not individually met their personal deductibles.
2024 Catastrophic Family Plan Options
| Family Plan Options | 2024 Monthly Premium |
|---|---|
| Secure Catastrophic | $763 |
| Ambetter from Fidelis Care Catastrophic | $786 |
| Anthem Gatekeeper X | $871 |
| Healthfirst Green Leaf | $1,093 |
| EmblemHealth Millennium | $1,656 |
| UHC Compass Catastrophic ST INN Pediatric Dental | $1,974 |
2024 Bronze Family Plan Options
| Family Plan Options | 2024 Monthly Premium |
|---|---|
| Healthfirst Bronze Leaf | $1,781 |
| BronzePlus-B1 | $1,791 |
| Healthfirst Bronze Leaf Premier | $1,843 |
| Ambetter from Fidelis Care Bronze | $1,860 |
| Ambetter from Fidelis Care Bronze HSA | $1,862 |
| Anthem Gatekeeper X | $2,049 |
| Bronze Classic | $2,105 |
| EmblemHealth Millennium | $2,612 |
| UHC Compass HSA Bronze NS INN Pediatric Dental Dep 25 | $2,761 |
| UHC Compass Bronze ST 3PCP INN Pediatric Dental Dep 25 | $2,988 |
| UHC Compass HSA Bronze NS INN Pediatric Dental Dep 29 | $3,454 |
| UHC Compass Bronze ST 3PCP INN Pediatric Dental Dep 29 | $3,738 |
2024 Gold Family Plan Options
| Family Plan Options | 2024 Monthly Premium |
|---|---|
| GoldPrime-G2 | $2,831 |
| GoldPlus-G1 | $2,848 |
| Healthfirst Gold Leaf | $2,875 |
| Healthfirst Gold Leaf Premier Plus | $2,998 |
| Healthfirst Gold Leaf Premier | $3,004 |
| Ambetter from Fidelis Care Gold | $3,129 |
| Ambetter from Fidelis Care Gold Wellness | $3,166 |
| Ambetter from Fidelis Care Gold Enhanced | $3,198 |
| Gold Simple | $3,419 |
| Anthem Gatekeeper X | $3,460 |
| Gold Classic | $3,594 |
| EmblemHealth Millennium | $4,128 |
| UHC Compass Gold ST INN Pediatric Dental Dep 25 | $4,677 |
| UHC Compass Gold ST INN Pediatric Dental Dep 29 | $5,850 |
2024 Silver Family Plan Options
| Family Plan Options | 2024 Monthly Premium |
|---|---|
| Ambetter from Fidelis Care Silver 1 | $2,251 |
| SilverPlus-S1 | $2,329 |
| Healthfirst Silver Leaf | $2,380 |
| Ambetter from Fidelis Care Silver | $2,416 |
| Healthfirst Silver Leaf Premier Plus | $2,476 |
| Ambetter from Fidelis Care Silver Enhanced | $2,478 |
| Healthfirst Silver Leaf Premier | $2,480 |
| Anthem Gatekeeper X | $2,768 |
| Silver Classic | $2,781 |
| Silver Simple PCP Saver | $2,784 |
| EmblemHealth Millennium | $3,430 |
| UHC Compass Silver NS INN Pediatric Dental Dep 25 | $3,691 |
| UHC Compass Silver ST INN Pediatric Dental Dep 25 | $3,881 |
| UHC Compass Silver NS INN Pediatric Dental Dep 29 | $4,617 |
| UHC Compass Silver ST INN Pediatric Dental Dep 29 | $4,855 |
2024 Platinum Family Plan Options
| Family Plan Options | 2024 Monthly Premium |
|---|---|
| PlatinumPlus-P1 | $3,395 |
| PlatinumPlus-P2 | $3,447 |
| Healthfirst Platinum Leaf | $3,619 |
| Healthfirst Platinum Leaf Premier | $3,745 |
| Ambetter from Fidelis Care Platinum | $3,817 |
| Anthem Gatekeeper X | $4,207 |
| Platinum Classic | $4,386 |
| EmblemHealth Millennium | $4,997 |
| UHC Compass Platinum ST INN Pediatric Dental Dep 25 | $5,666 |
| UHC Compass Platinum ST INN Pediatric Dental Dep 29 | $7,088 |