Aging Better: Why the cheapest health insurance plan may not be the most affordable

Share Add Us On Google Add as a preferred source on Google ATLANTA, Ga. (Atlanta News First) — As families review their health insurance options during open enrollment, a low monthly premium may look appealing. But Georgia Watch’s Rachel Shanklin says it’s important to consider what a plan could cost throughout the year, not just what comes out of a paycheck or bank account each month. “One thing I always emphasize with folks is the cheapest plan isn’t necessarily the most affordable plan,” Shanklin said on this week’s episode of Aging Better . “For example, you may find a plan with a relatively low monthly premium, but that plan could come with a very high deductible or significant out-of-pocket cost when you need care.” Shanklin is the senior director of policy and advocacy at Georgia Watch, a consumer advocacy organization that works on issues affecting Georgians’ financial security and quality of life. Her work focuses on health care access and affordability, consumer financial protection and economic opportunity. Look beyond the monthly premium Open enrollment gives families a chance to review their coverage and find a plan that fits both their health needs and their budget, Shanklin said. She recommends looking at the full picture of health care spending. That can be especially important for people who have children, regularly see a specialist, take prescription medications or manage a chronic health condition. A plan with a lower premium may require members to pay more before insurance begins covering certain services, or leave them with higher costs when they seek care. Comparing deductibles and other out-of-pocket expenses can help families estimate what they might spend over the course of a year. Why insurance costs are rising Shanklin said many consumers are facing higher insurance costs as insurers respond to rising expenses for hospital care, physician services, prescription drugs and the health care workforce. For people who buy coverage through the Affordable Care Act marketplace, another factor has been the expiration of enhanced federal premium tax credits at the end of 2025. Those enhanced subsidies had helped reduce what eligible enrollees paid for coverage. The impact varies by person and plan. For 2027, the average premium for the benchmark silver marketplace plan is increasing by 13% nationwide, according to health policy research organization KFF . KFF notes that most marketplace enrollees receive a subsidy that will cushion the impact of premium increases. Listen to this week’s Aging Better podcast for more advice on how to pick the best health insurance plan for your family. For Shanklin, the takeaway is to review your options carefully and consider the care your family is likely to need—not just the monthly price tag. Listen to this week’s Aging Better podcast for more of the conversation with Rachel Shanklin. Listen to this week’s full episode of Aging Better with Dr. Andrew Thornton for more on staying healthy through respiratory virus season. Atlanta News First podcasts are available now on: Spotify | Apple Podcasts | Amazon Music | YouTube Download our Atlanta News First app for your latest news and information. Copyright 2026 WANF. All rights reserved.