Changes in the cheapest Silver plans on the Florida health insurance marketplace:
Yes, Florida has a health marketplace. However, it does not have a State-Based Health Insurance Marketplace (SBM). Rather, Floridians utilize the federally-operated marketplace (HealthCare.gov) to conduct enrollment for private insurance coverage that complies with the Affordable Care Act (ACA) requirements.
All residents of Florida are eligible for coverage on the federal health marketplace, as long as they are not incarcerated or already enrolled or eligible for Medicare or Medicaid.
During the open enrollment period of 1 November, 2022 - 15 January, 2023 - 3.2 million Florida residents signed up for private individual and family health insurance coverage for 2023 through the federal marketplace.
In 2023, 12 insurers offer health insurance plans to the residents of Florida through the health marketplace:
Note: Comparison is made using the cheapest Silver plan for a 35-year-old individual.
In 2023, the price of the cheapest Silver plans went up across Florida by an average of $15.98 per month (or $191.76 per year). Meanwhile, in some counties access to health insurance became cheaper. The biggest price drop was recorded in Madison County where the cheapest possible Silver plan is now 9.5% less expensive, compared with the year earlier. On the other hand, the biggest price increase was in Hamilton County, where the cheapest available silver plan is now 20.7% more expensive.
Since Florida uses the federal health insurance exchange, state’s residents receive subsidies and tax credits based on their expected earnings during the year. Individuals earning between 100% and 400% of the Federal Poverty Level (which translates to $14,580 - $58,320 for an individual or $30,000 - $120,000 for a family of four), can get discounts on the cost of health insurance.
Speak with a Florida-licensed health insurance agent for more details and possible ways to save money on health insurance.
In 2023, the annual health insurance deductible on the cheapest Silver plan was decreased in 55 Florida counties (82 percent of the state), by an average of $834 (from $6,147 in 2022 to $5,313 in 2023). The largest decrease of a deductible is seen in Miami-Dade County, where the cheapest plan deductible was lowered by $4,650 (from $8,650 to $4,000). This type of an adjustment makes healthcare more affordable.
For those looking for the Florida health insurance with the lowest possible annual deductible in 2023:
In the 55 counties that do not offer zero-deductible plans in 2023:
The federally-set maximum out-of-pocket amount for ACA-compliant plans has increased from $8,700 (in 2022) to $9,100 in 2023. Some FL health plans offer lower options:
Comparing the lowest-priced Silver plans across all Florida counties, individual MOOP has gone up by an average of $1,157 (from $7,524 to $8,681). Looking at the extremes:
The cheapest health insurance MOOP remained unchanged in only two Florida counties in 2023: Brevard County and Seminole County kept the 2022 limit of $8,700.
Dental insurance can be commonly purchased along with the marketplace health plan, but other types of supplementary policies or alternative health policies, such as Short-Term health insurance, Medicare, Vision, Critical Illness insurance, Disability Income insurance, or Hospital Indemnity cannot be purchased on the health care exchange in Florida, because they typically do not meet the minimum requirements of the Affordable Care Act.
To shop for short-term health and any other type of health-related policy, contact a health insurance agent licensed in the state of Florida.
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