The cost of health insurance in Tennessee can vary significantly based on several factors, including the type of plan, the individual's age, health status, the level of coverage, and geographic location within the state. As of 2023, the average monthly premium for health insurance through the Health Insurance Marketplace in Tennessee typically ranges from approximately $300 to $600 per person.
For individuals who qualify for subsidies, the costs can be significantly lower. The premium assistance is determined by income levels relative to the federal poverty line, and many Tennesseans find plans that fit their financial situations better due to this support.
If you are looking at employer-sponsored plans, the costs can vary even more. Employers usually share the cost of premiums with their employees, with the average employee contribution around $100 to $200 per month for individual coverage. Family coverage tends to be more expensive, often exceeding $1,000 monthly for the total premium, which might be split between the employer and employee.
It's also important to consider the different types of plans available. Health Maintenance Organizations (HMOs) typically offer lower premiums but require members to use a network of doctors and get referrals for specialists. Preferred Provider Organizations (PPOs), on the other hand, generally have higher premiums but provide more flexibility in choosing healthcare providers.
Medicaid expansion in Tennessee has been a topic of discussion, and while not yet implemented, its potential could impact costs and coverage options for lower-income individuals in the state.
For the most accurate, personalized information, it's advisable to shop around through the Health Insurance Marketplace or consult with insurance brokers who are familiar with the Tennessee market. This will help ensure you find the best plan that meets both your healthcare needs and budget.