There are five factors that go into pricing your premium:

Your age
Your location
Whether or not you use tobacco
Individual v.s. a family plan
Your plan category (Bronze, Silver, Gold, Platinum, or Catastrophic)

Health insurance companies do not take gender, your current or past health history into consideration when pricing your premium.
Because of political concerns, health insurance premiums on the marketplace have been increasing.

But, other things to take into account besides premiums are copayments, co-insurance, and deductibles.

Your deductible is the amount you need to pay before your health insurance company starts to pay for any health care services.
A copayment is a fixed cost for a health care service or prescription drug.
Coinsurance is the percentage of the cost you pay for a health care service.

A premium tax credit can aid in helping you pay for health insurance.  A premium tax credit is a tax credit that you can apply in advance of your tax return in order to reduce the cost of your monthly premiums.


Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance. 





Posted 12:00 PM

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