 TITLE: How Much Does Health Insurance Cost? CONTENT: Insurance premiums are the price you pay for your health insurance coverage, whether or not you actually use it. Last year, the cheapest Bronze coverage (the lowest-tier coverage sold through the Marketplace) averaged $331 per month for one person. The premium for employer-sponsored health insurance averaged $622 per month for one person.\nHowever, average premium costs don't mean much when you're shopping for health insurance. First, your costs may vary widely from the average depending on several factors (more on those below). Second, the full premium is rarely the amount you'll actually pay. People who buy insurance through the Marketplace can qualify for tax subsidies that cover some or all of their premium costs. Many employers who offer health insurance pay most, if not all, of their employees' premiums. On average, last year a person with employer-sponsored health insurance paid about $103 per month.\nKeep in mind that when you actually use your health insurance, you may be responsible for other costs including:\n*   **Deductible**: This is the amount you have to pay out of pocket per year before insurance begins to pay your health care expenses.\n*   **Coinsurance**: If your plan has coinsurance, you pay a percentage of your medical bills and the insurance company pays the remainder. A plan with 20% coinsurance, for example, means you're responsible for 20% of the bill.\n*   **Copayments:**: Copays are flat fees you pay for specific types of medical care; the insurance company covers the rest. For instance, if your doctor charges $150 for a visit and your copay for an office visit is $30, you pay $30 and the insurance company pays the remaining $120.\n*   **Out-of-pocket maximum**: Insurance plans set limits on the amount individuals and families must pay out of pocket each year for copays, coinsurance and deductibles. Once you reach your annual out-of-pocket maximum, the insurance company covers all your medical costs for the rest of the year. END