How Much Health Insurance Do I Need in My 30s?
Joy Wallet is advertiser-supported: we may earn compensation from the products and offers mentioned in this article. However, any expressed opinions are our own and aren't influenced by compensation. To read our full disclosure, click here.
You might undergo several life changes in your 30s: Maybe you’ll land a new, higher-paying job. You might take on the financial responsibility and higher expenses of a new monthly mortgage payment. You might even start or grow a family.
These milestones can impact the types of insurance you need. If you are starting a family, you can’t worry only about covering your medical expenses. You’ll need health insurance that can help you lessen the costs of the medical care that your family members receive, too.
If you’ve added a mortgage payment to your monthly expenses, you might choose a high-deductible health insurance plan with a lower monthly premium. This could reduce your monthly insurance rates or leave you with more money in your paycheck if your employer provides your health insurance. That extra money can help you more comfortably afford your mortgage payment.
And if you’ve landed a higher-paying job? You might consider investing in a more expensive PPO health insurance plan that gives you flexibility with the doctors and other medical providers from which you can receive care.
Finding your own health insurance coverage at any age can be intimidating. It can be especially difficult to determine how much coverage you need and what type of plan you need when going through the many changes that come during your 30s.
Wondering if you have the right health insurance policy? Read on for tips on the health insurance coverage you need in your 30s.
In this article
Why do I need health insurance?
Health insurance is largely designed to cover the costs of unexpected emergencies. Maybe you fall down the stairs while lugging moving boxes up the back steps of a new home and break your leg. Maybe you break your arm while rounding second base during your weekly softball game. The average costs of treating those emergencies can run into thousands of dollars.
And if you don’t have enough health insurance coverage? The medical bills that come with these emergencies could drain your bank accounts. Then there’s the cost of routine medical care. Even regular visits to the doctor for check-ups and vaccines can be expensive without the proper health insurance coverage. If your co-payments are too high, you could spend hundreds of dollars each month on routine medical care. The same can be said if your deductible is too high. If you have a medical history of specific health conditions, you could pay for regular medical tests.
And don’t forget the cost of prescription drugs, which can also shatter your budget if you don’t have the right health insurance plan to ease the financial blow. If you contract a critical illness or have long-term health issues, something that isn’t unheard of for people in their 30s? That, too, can put serious hurt on your finances if you lack the protection of strong health insurance coverage.
Just how expensive is healthcare in the United States? It’s not pretty: The 2023 Millman Medical Index predicted that the average annual health and medical care cost for U.S. adults would hit $7,221 last year. HealthCare.gov adds that treatment for a broken leg can cost $7,500, while spending three days in the hospital can bring a fee of $30,000.
You might not need to spend as much on healthcare if you are in your 30s and healthy. However healthcare costs can be high at any age. That’s why you need the protection of the right health insurance policy regardless of age.
Up to $2 million in coverage
- Get covered in 5 minutes.
- 95% of customers approved.
- No Hassles. No Gimmicks. Easy Application.
- Non-Commissioned Agents.
- Ages 20+
- 100% Online Application.
- Fast Coverage.
How much health insurance do I need in my 30s?
So, how much health insurance do you need once you hit your 30s? Unfortunately, there is no simple answer. As with all big decisions, it depends largely on your financial and personal situations.
You might want a plan that allows you to see any doctor you wish if you have a young family and you’ve already built bonds with specific healthcare providers. If money is tight, you might choose a plan that only allows you to see physicians in a limited network but also comes with lower premiums.
Depending on how much savings you’ve built by the time you reach your 30s, you might choose a high-deductible health insurance plan. This plan comes with high deductibles – the amount you must pay out of pocket each year before your health insurance kicks in – but a lower monthly premium.
You need to see whether you have dependents and enough life insurance coverage to provide for your family's financial well-being in your absence. Further, comprehensive coverage might cost a little more, but will ensure you are well taken care of in case of a medical condition.
As you can see, choosing the right health insurance plan takes time and research. If you’re looking for where to find health insurance and how much you might pay, here are answers to some of the most common questions.
Where can I find health insurance?
You can get health insurance from three main sources in your 30s: The easiest way to find insurance is from your employer if you are fortunate enough to work for a company with a health insurance program. Thanks to the Affordable Care Act (ACA), you can also shop for a variety of health insurance plans from the Federal government’s Health Insurance Marketplace. You can also search on your own without using the marketplace, shopping around with individual insurance agencies to find the health insurance policy that best fits the needs of you and your family members.
What options will I get if I can choose employer-sponsored health insurance?
If you work for a company that offers health insurance, you can typically choose from varying plans, all of which come with different health insurance premiums, services, and deductibles. Your employer might, for instance, offer an HMO plan. HMOs are considered the most restrictive type of health insurance policy, limiting you and your family members to doctors and care providers in your health insurance plan’s network. Because they are more restrictive, HMOs usually come with lower monthly premiums. If you are in your 30s, single, and interested in seeing the least amount of money deducted from your paycheck for health insurance, you might choose an HMO.
Your employer might offer a PPO plan, too. These plans allow members to seek medical care from any provider. You are not limited to doctors or caregivers in a certain network. PPO plans, though, usually charge higher monthly premiums. If you are in your 30s and married with children, a PPO plan might be a wise choice because of its flexibility when seeking healthcare services.
Health insurance companies also offer what are known as high-deductible health plans. These policies, as their name suggests, come with a higher deductible than standard HMO or PPO plans. Your deductible is the amount you must pay each year out of pocket before your health insurance coverage kicks in. If you have a deductible of $7,000, you’d have to pay for your first $7,000 worth of healthcare costs out of pocket each year before your policy begins paying out for your care.
Why take on a higher deductible? You’ll save elsewhere: You will enjoy low premiums. Just be sure that you’ve built up enough savings to cover those out-of-pocket costs until you hit your deductible.
How much will I pay for employer-sponsored health insurance?
Once you sign up for a health insurance plan with your employer, your company will automatically deduct your costs from your paycheck. How much it deducts depends on your plan, whether you seek individual coverage or provide health insurance coverage for an entire family.
The average annual premium cost for employer-sponsored health insurance in 2023 came in at $8,435 for individuals and $23,968 for family coverage, according to KFF. There is little indication that health insurance costs are heading down, either. KFF reported that both individual and family coverage premiums rose 7% in 2023 compared to 2022.
What is the Health Insurance Marketplace?
When the Affordable Care Act was signed into law on March 23, 2010, it required that health insurance exchanges begin operating in every state by Oct. 1, 2013. Because of this, if your employer doesn’t provide health insurance, you can shop for a health insurance plan that fits your budget from the Health Insurance Marketplace, which you can find at HealthCare.gov.
The marketplace offers plans in three categories: Bronze, Silver, and Gold. You can also sign up for more expensive Platinum plans that charge lower out-of-pocket costs and deductibles but also have the highest monthly premiums.
All plans cover the same set of essential health benefits, according to HealthCare.gov. KFF says that the average monthly premium for a marketplace health insurance plan was $477 in 2024.
The 10 health benefits covered by marketplace plans are:
- Ambulatory patient services
- Emergency services
- Hospitalizations
- Pregnancy, maternity and newborn care
- Mental health and substance use disorder services
- Prescription drugs
- Rehabilitative services and devices
- Laboratory services
- Preventive and wellness services
- Pediatric services
Plans must also include:
- Birth-control coverage
- Breastfeeding coverage
How much will I pay for plans on the Health Insurance Marketplace?
The amount you pay for marketplace plans will vary depending on your state and the level of coverage you choose. Picking a Gold plan costs more each month than choosing Bronze-level health insurance coverage.
For example, depending on your zip code, Bronze plans come with monthly premiums as low as $278, while Silver plans come with monthly premiums starting at $362. You can get a Gold plan for monthly premiums starting at $415, according to HealthCare.gov. ValuePenguin said that high-end Platinum plans cost an average of $813 a month.
Remember when shopping for a plan that you will have a higher deductible – the out-of-pocket costs you must first pay before insurance coverage kicks in – when you select a lower-priced marketplace plan.
What about pay-out percentages? It's important to consider what percentage of your healthcare costs your insurance policy will cover whether you are seeking routine care or receiving coverage for a medical emergency. Plans on the marketplace cover between 60% and 90% of your covered healthcare services after you meet your deductible, with Bronze plans generally paying out in the 60% range and Platinum plans paying 90% of your coverage costs.
Say you've already covered your $3,000 deductible for the year, and you need treatment for a broken ankle that costs $3,500. If your plan covers 80% of medical costs, you'd pay $700, and your insurance would cover the remaining $2,800.
What are out-of-pocket maximums? Your health insurance plan’s out-of-pocket maximum is the total amount you must pay each year for healthcare, no matter how much covered care you get. Say your plan comes with a $4,000 out-of-pocket maximum. Once you pay $4,000 in deductible payments, coinsurance, and copayments, your plan will pay for the rest of your covered medical costs for the remainder of the year without you having to kick in any extra dollars. If you’re worried about keeping a healthy balance in your savings account, you might choose a health insurance plan with a lower out-of-pocket maximum.
What is the premium tax credit, and should it matter to me? Depending on your income, you might be eligible for a premium tax credit when taking out a policy from the Health Insurance Marketplace, which you can apply each month to lower your health insurance policy's monthly premium. Whether you qualify depends on how much you earn. Say, though, that you qualify for a premium tax credit of $300, and the monthly premium for your health insurance plan is $375. After applying your premium tax credit, you’d only have to pay $75 a month for your plan.
When can I sign up for a Health Insurance Marketplace plan?
You can sign up for a health insurance policy from the government’s marketplace during what is known as the open enrollment period. This period doesn’t last all year, so make sure that you don't miss the enrollment period if you need coverage. Exact open enrollment dates might change each year, but in general, the enrollment period starts in early November and ends in mid-January.
Can I receive health insurance from Medicaid? Depending on your income, you might qualify for free or low-cost health coverage from the federal government’s Medicaid program. This service isn't open to everyone, and the guidelines for getting health insurance through Medicaid vary by state. To determine if you are eligible for health insurance through Medicaid, visit this page at HealthCare.gov and click the "Find out now" button.
Do I need to find a policy through the government’s marketplace? Not necessarily. If your employer doesn’t provide health insurance, you can also shop for the right policy for you and your family directly from insurance providers. Many of these insurance brokerages offer policies similar to what they might offer on the health insurance marketplace.
When shopping, ask insurance providers how much your premium will cost each month, what medical treatments and services a policy will cover, the size of a policy’s deductible, and the pay-out percentages that come with a policy. Ask, too, if a plan you choose comes with an out-of-pocket maximum and what the maximum is.
Three plans that might work for 30-somethings
Choosing the right health insurance plan when you’re in your 30s might seem intimidating. But while you will have to consider your overall health, finances, and family situation, you have plenty of choices, even if your employer doesn’t provide health insurance. The odds are high that you’ll find a plan that works for you, whether shopping on the Health Insurance Marketplace or with individual insurance brokers.
As of late February, you could have chosen from these three plans available on the Health Insurance Marketplace, plans that come with differing deductibles, premiums, and pay-out percentages:
The Bronze S
Aetna plan comes with a monthly premium of $319.42, a deductible of $7,500, and an out-of-pocket maximum of $9,400 a year. You would also face copayments, the amount you pay for certain medical procedures. For this plan, you have a copayment of $50 for every visit to your primary care doctor and $75 for every visit to an urgent-care facility. You’d also have a copayment of $100 for every visit to a specialist and one of $25 when you purchase generic prescription drugs.
The Silver 8 250
The Silver 8 250 plan comes with a monthly premium of $383.50, a deductible of $5,900, and an out-of-pocket maximum of $9,100. While you pay higher premiums with this plan, the yearly deductible is lower. This plan's copayments are also a bit lower: You'd pay $40 for every visit to a primary care physician, $80 for a visit to a specialist, and $60 for a visit to an urgent-care facility. Your copayment for generic prescription drugs would be $20.
Blue FocusCare Gold
With the Blue FocusCare Gold plan, you'd pay $438.44 monthly with a very low annual deductible of $750. Your yearly out-of-pocket maximum would be $9,450. Copayments would be $20 for primary care visits, $40 for specialist visits, and $40 for trips to an urgent-care facility.
Up to $2 million in coverage
- Get covered in 5 minutes.
- 95% of customers approved.
- No Hassles. No Gimmicks. Easy Application.
- Non-Commissioned Agents.
- Ages 20+
- 100% Online Application.
- Fast Coverage.
The bottom line
When searching for the type of plan for your health insurance needs, it’s important to consider several factors, including any health conditions you might have and the average premium you can afford each month. Remember to consider all the costs of a health insurance policy, too. A policy might charge a lower monthly premium but levy a higher deductible. Another affordable policy might not cover all the medical services you or your family members need. The key, then, to finding the right health insurance policy? It all comes down to your willingness to do the necessary research.
Joy Wallet is an independent publisher and comparison service, not an investment advisor, financial advisor, loan broker, insurance producer, or insurance broker. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. Joy Wallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Featured estimates are based on past market performance, and past performance is not a guarantee of future performance.
Our site doesn’t feature every company or financial product available on the market. We are compensated by our partners, which may influence which products we review and write about (and where those products appear on our site), but it in no way affects our recommendations or advice. Our editorials are grounded on independent research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
We value your privacy. We work with trusted partners to provide relevant advertising based on information about your use of Joy Wallet’s and third-party websites and applications. This includes, but is not limited to, sharing information about your web browsing activities with Meta (Facebook) and Google. All of the web browsing information that is shared is anonymized. To learn more, click on our Privacy Policy link.
Images appearing across JoyWallet are courtesy of shutterstock.com.
Writer
Dan Rafter is a freelance writer who has more than 20 years experience covering personal finance. He's written for the Chicago Tribune, Washington Post, Bankrate, CreditCards.com, Rocket Mortgage, NortonLifeLock and several others.
Share this article
