What Is The Definition Of A Health Insurance Premium? 
A health insurance premium is the total monthly cost calculated by an insurance company for a particular plan of health insurance benefits . Under the requirements of the Affordable Care Act -LRB- ObamaCare -RRB- individual and small group health insurance rates will be derived from a rate table for the health insurance plan selected and based upon the age of the policyholder , their spouse -LRB- if they are covering one -RRB- and the first three children -LRB- if they are covering any -RRB- that will be covered . For example , for the cost for a health plan selected by a husband age 30 and his wife age 28 is $ 300 per month for a 30 year old and $ 275 for a 28 year old , their total monthly premium would be $ 575 per month -LRB- $ 300 + $ 275 -RRB- . The only other variable that can impact rates -LRB- depending upon the health insurance company 's underwriting policies -RRB- could be whether the person -LRB- s -RRB- to be covered use tobacco products . ObamaCare does allow for health insurance rates to be raised to account for tobacco use . 