Private Health Insurance Florida

Affordable Individual Health Insurance Florida

A good number of Florida residents purchase private individual health insurance plans, as they are neither covered by their employers nor qualify for government-funded plans like Medicare and Medicaid. Individuals and families who need to buy their own health coverage can make use of the federally run health marketplace to enroll. Private individual and family health insurance plans are generally purchased by self-employed, people who have retired before the age of 65, or people employed by businesses who don’t provide health benefits. With Florida’s decision to not expand Medicaid, an estimated 391,000 residents remain uninsured. This is because they neither qualify for Medicaid nor they are eligible for tax subsidies that help them afford health insurance. It has been expected that if the state expands Medicaid coverage, then more than 1.3 million people in Florida would gain Medicaid coverage and the uninsured rate would drop by 30%. Individuals who need to purchase health insurance coverage can look for an affordable private health insurance plan in Florida

Vital Statistics Related to Florida Healthcare Coverage

  • The total Florida population in 2020 was 21,733, 312.
  • Around 25% of Florida’s residents are uninsured.
  • Due to the COVID-19 pandemic, the federal government has reopened open enrollment from February 15, 2021, through May 15, 2021. This gives residents of the state another opportunity to enroll in health insurance.
  • With more than 463,000 enrollments till December starting in 2020, Florida was leading the country in terms of new enrollments.
  • Health insurance carriers have proposed an overall rate increase of 1.8% for the health plans sold in Florida’s insurance market.
  • More than 4.66 million residents of Florida are enrolled in Medicare plans.

Different Metal-tiers of Plans available in Florida

Florida State offers comprehensive health insurance coverage to cater to the needs of individuals and their families through a variety of health plans. The health plans available in Florida help individuals stay healthy through preventive care benefits and also provide them easy access to healthcare in case of a medical emergency. There are four different types of metal plans available in Florida. The metal levels are based on the percentage of out-of-pocket costs individuals are responsible to pay after meeting their deductible amount. The four different metal plans available in Florida are Platinum, Gold, Silver, and Bronze.

Average Cost of Health Insurance in Florida by Metal Tier in 2021

Metal-Tiers Monthly Premium for 21 Years Old Monthly Premium for 40 Years Old
Catastrophic $237 $303
Bronze $324 $414
Expanded Bronze $339 $433
Silver $447 $571
Gold $484 $618
Platinum $647 $827

Finding Affordable and Cheapest Health Plan in Florida

While shopping for an affordable private individual health insurance plan in Florida, People should remember that premiums are not only the cost component as far as healthcare cost is concerned and should also take into account deductibles, copays, and coinsurance cost while comparing for health plans. The best and cheap plan will vary from person to person, as it depends upon the individual’s income level and expected healthcare needs. Individuals who are relatively healthy or require little care should look forward to cheaper plans, whereas individuals who require frequent health care should prefer plans with higher cost-sharing benefits.

Metal Tier Cheapest Plan The Monthly cost for a 40-year-old
Catastrophic Health First GYM ACCESS Catastrophic HMO 1746 $200
Bronze Ambetter Essential Care 1 (2021) $305
Expanded Bronze Ambetter Essential Care 2 HSA (2021) $312
Silver Oscar Silver Saver $408
Gold Oscar Gold Classic $435
Platinum BlueSelect Platinum 1451 ($0 virtual visits / $100+ in rewards) $553

Find a Right Affordable Plan For You