September 1, 2023
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2024 Average Statewide Monthly Premium for an Individual
Covered California Bronze Health Insurance Plan
August
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Summary:
Business and Professions Code section 7454, subdivision (g), as added by California Proposition
22, and Title 10 of the California Code of Regulations, section 6466, require Covered California to
calculate the average statewide monthly premium and publish this amount annually on or before
September 1. The average statewide monthly premium for an individual for a Covered California
bronze health insurance plan for the 2024 plan year is $597.
Methodology:
The average statewide monthly premium for an individual Covered California bronze health
insurance plan is computed by multiplying the average statewide bronze premium for a 21-year old
as calculated for California’s Individual Shared Premium Responsibility Penalty by the average age
rating factor for individuals enrolled in Covered California in April 2023 as shown in the table below.
California’s Individual Shared Premium Responsibility Penalty calculation for 2024 and the source
files used to determine the median bronze-level premium in each of California’s 58 counties are
located on Covered California’s website, https://hbex.coveredca.com/data-research/. Please note
that California’s Individual Shared Premium Responsibility Penalty was calculated using preliminary
rates available at the time of posting.
Individual Shared Responsibility Penalty for 2024 (calculated for a 21-year old)
$348
Average age rating factor for Covered California enrollment in 2023
x1.717
Average statewide monthly premium for an individual Covered California bronze health
insurance plan
$597
