Most and least expensive states to purchase health insurance

Most and least expensive states to purchase health insurance -

As consumers move between states to generally consider the cost of living, the housing market and how much they will be paid, but they can not think about the cost of health insurance.

Unfortunately, the cost of health insurance coverage varies greatly between states.

In the individual market health insurance following are the five most expensive states for coverage (most to least expensive):

1. Massachusetts
2. Vermont
3. New Jersey
4. New York
5. Rhode Island

the five least expensive states for individual coverage include ( cheapest to most expensive):

1. Alabama
2. California
3. Arkansas
4. Idaho
5. Delaware

in Massachusetts the average individual monthly premium is $ 437 or $ 5,244 per year. For a family of four, this number would increase quite rapidly from states with coverage more affordable. Alabama average individual premium is $ 136 per month or $ 1,632 per year - much more affordable than the states of the East Coast.

Why health insurance rates vary from state to state?

The rates depend on the condition and number of coverage mandates. For example, Massachusetts has an individual mandate requiring all residents to purchase health insurance, and it is a guaranteed transmission state. New York is also a secured transmission state which means that individuals are guaranteed coverage regardless of pre-existing conditions.

Some states also have mandates for certain levels of coverage or benefits. These levels could include maternity coverage, infertility treatment, coverage of autism, mental health services and much more. Typically, the larger coverage that is mandated, the most expensive health insurance in this state.

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