graphic symbolizing "Costs"

Cost 1: Premium

Monthly payment or premium

If your plan has a premium, you must pre-pay your premium each month.

graphic of text that says "Premium, pay monthly"   

Most health insurance plans come with a monthly premium you must pay. For example, in January you will pay your monthly premium for February’s health insurance coverage. You can think of your insurance like rent. You must pay for it every month. If you don’t pay this premium every month you may lose your health insurance.

Your premium may go up each year. In some cases, it may stay the same or even go down. When it’s time to renew your coverage at the end of the year, take a look at the other plans available to you. You may find that switching from a bronze plan to a silver plan, for example, is less expensive for you if you have a lot of doctor visits with the kinds of “out-of-pocket costs” described on the following pages (deductible, co-pay and co-insurance).



Write down when your health insurance bill is due and make sure to pay it on time every month. Keep records of each payment. 

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My monthly payment is due on
the ___________ day of each month. 


NOTE: You may not have to pay a premium for some plans, such as Medicaid plans in most states.