How much does obamacare cost per month? Regardless of what you call it, Obamacare is still the Patient Protection and Affordable Care Act (ACA). It has taken several roads to help Americans get health insurance, including providing private health plans through online marketplaces, offering substantial federal subsidies for some of the premiums, expanding Medicaid to cover more low-income people, and placing new rules on health insurers like requiring them to accept everyone regardless of preexisting conditions.
Who benefited most from Obamacare?
Obamacare plan costs per month vary by a limited set of factors including the type of plan, region, age, and whether or not you qualify for cost assistance. However, in general, a Marketplace plan costs less than $100 a month for the majority of people who obtain coverage during each year’s open enrollment period. In addition, the ACA provides significant assistance to lower your out-of-pocket expenses such as copays and deductibles.
On average, a Marketplace plan costs $456 a month without a subsidy for an adult in 2023. This is based on the average nationwide marketplace plan for a 40-year-old with Silver level coverage. However, the cost of a marketplace plan will be significantly reduced for many people through the use of subsidies, or premium tax credits.
Generally, the plans are divided into four separate “metal” tiers. Bronze plans tend to have lower monthly premiums but higher out-of-pocket costs when you need care. Silver plans offer moderate monthly premiums and lower out-of-pocket costs. Gold plans have the highest monthly premiums but lower out-of-pocket costs. And Platinum plans have the lowest monthly premiums and out-of-pocket costs, including a zero cost sharing deductible.
