Study Finds New York and South Carolina Have the Highest Health Insurance Costs
The study compared silver plans ā the most popular plan according to the
The lowest-cost silver plans for each state were ranked based on the favorability of the following cost factors:
- The plan's monthly premium
- The deductible
- The emergency care copay
- The copay for care from a primary physician
To see full details on the methodology, visit:
http://www.gobankingrates.com/personal-finance/10-best-worst-states-health-insurance-costs/
"Higher insurance costs in many states are tied to high costs of living or being in rural areas," said
"Competition is another key factor of health insurance costs," said Kirkham. "In rural states like
The 10 States With the Highest Health Insurance Costs
New York South Carolina Alabama New Jersey Mississippi Oklahoma Indiana Delaware Wyoming Colorado
The 10 States With the Lowest Health Insurance Costs
New Mexico Utah California Texas Pennsylvania Michigan District of Columbia Hawaii Oregon Idaho
To see where your state ranked, click here.
Additional insights:
- The state with the highest monthly premium is
New York at$366 a month, compared withNew Mexico , which has the lowest monthly premium at$181 a month. - Primary doctor copays vary widely by state.
West Virginia andIndiana have no copays, but Californians' copays are the highest ā$250 . - Deductible costs range from
$1,300 inNorth Dakota to$6,850 inSouth Carolina , which is more than five times the price. - Despite
New Mexico's low costs, many residents have encountered difficulties inJanuary 2016 getting their health coverage due to a high volume ofDecember 2015 health insurance applications still being processed.
About GOBankingRates
GOBankingRates.com is a leading portal for personal finance and consumer banking information, offering visitors the latest on everything from finding a good interest rate to strategies for saving money, investing for retirement and getting a loan. Its editors are regularly featured on top-tier media outlets, including
Contact:
GOBankingRates.com
[email protected]Ā Ā
310-297-9233 x112
*: Cox, C.,
1: Assumption: Findings are based on a single, non-smoking, 40-year-old male who earns
This study and the included rankings were updated
Photo - http://photos.prnewswire.com/prnh/20160122/325202Ā
Logo - http://photos.prnewswire.com/prnh/20130926/LA86996LOGO
Ā
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/study-finds-new-york-and-south-carolina-have-the-highest-health-insurance-costs-300208713.html
SOURCE GOBankingRates
West Palm Beach doc, daughter expose drug price hikes up to 1,700%
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News