Health Insurance Affordability Calculator
Understanding the affordability of health insurance is crucial for making informed decisions about your healthcare. Our calculator helps you determine if a health insurance plan fits your budget.
- Enter your annual income and family size.
- Enter your estimated monthly premium.
- Click ‘Calculate’.
The calculator uses the following formula to determine affordability:
Affordability Score = (Income - (Premium * 12)) / (Family Size * 365)
Where:
- Income is your annual income.
- Premium is your monthly premium.
- Family Size is the number of people in your family.
| Family Size | Average Annual Premium |
|---|---|
| 1 | $7,470 |
| 2 | $14,950 |
| 3 | $20,100 |
| 4 | $25,000 |
| 5 | $29,400 |
| 6+ | $33,500 |
- Consider high-deductible plans for lower premiums.
- Check if your preferred doctors and hospitals are in-network.
- Review the plan’s coverage and benefits carefully.
What does the affordability score mean?
The affordability score indicates how much of your income is left after paying for health insurance.
For more information, see the CMS Health Insurance Rate Review and the HHS Health Insurance Coverage Report.