Health care costs rise for most Americans in 2023. Without a public health care system, price hikes in some states can put thousands of people on worse coverage plans and potentially leave them in financial ruin for a problem that wasn’t their fault.
According to valuepenguin.com, the average monthly cost of health insurance in the United States is $560a 4% increase from $531 in 2022. This is based on the average cost of the Silver plan for a 40-year-old candidate.
Here is the table of the averages of the different plans.
| Stage | Monthly premium 2023 | Monthly premium 2022 | Year-over-year variation |
|---|---|---|---|
| Catastrophic | $332 | $316 | 5.20% |
| Bronze | $440 | $398 | 10.61% |
| Money | $560 | $542 | 3.29% |
| Gold | $604 | $594 | 1.59% |
| Platinum | $737 | $685 | 7.55% |
Two states, Wyoming and West Virginia, have healthcare costs 50% higher than the national averageboth having annual costs of over $10,000 per year on the Silver plan alone.
Three states have silver plans that cost less than half that crazy figure: New Hampshire, Maryland and Minnesota.
the States that become much more expensive in 2023 compared to 2022 are: Georgia (20.30%), Colorado (19.56%) and Wyoming (15.45%). States are becoming more affordable are: Virginia (-16.99%), Louisiana (-10.44%) and Idaho (-6.40%).
How is health insurance changing with COLA 2023?
For the first time in more than a decade, some Medicare beneficiaries will see their premiums drop. Those who receive Part B cover will have their standard reduced monthly premium from $5.20 in 2023, to $164.90.
Part B coverage focuses on two types of services: medically necessary treatment and preventive treatment. This covers everything from ambulance services and medical equipment to mental health support and a selection of prescription drugs for outpatients.
Health insurance part A premiums will increase slightly in 2023, with monthly costs set at between $278 and $506, depending on how long you or your spouse worked and the amount of Medicare taxes paid.
The fees for Part C and Part D coverage will vary greatly from person to person, as it reflects local state funding efforts and the cost of medications you may be claiming from insurance.
