What are the average healthcare costs in New York?

1 min read by Unbiased team Last updated June 28, 2024

Until 2022, healthcare companies in New York were among the most costly in the US, but the state legislature changed that in 2023 by reducing the annual rate increases.


  • In 2022, New York's healthcare coverage for single employees was the highest in the country, averaging 18% more than the national average. 

  • According to Forbes Advisor, New York State ranked 41st on its list of the most expensive states for healthcare in 2024. 

  • The New York State Department of Financial Services announced a reduction in health insurance rate increases in 2023, lessening the potential cost of healthcare in New York. 

How much are insurance premiums in New York? 

The average monthly cost-sharing health insurance premium in New York for an individual is $600

A couple would pay about $1,200 monthly, and extra dependents would increase the premium. These rates vary based on the type of plan and coverage level, as well as the county within New York. 

New Yorkers pay as much as 18% more than the national average for healthcare.  

Here's a glimpse at the stats in 2022: 

  • The average cost of healthcare in New York State for a single employee is $8,936. This is 18% higher than the national average and the most expensive average in the country. 

  • Employees plus one were paid an average of $16,702 annually, ranking second in the country and 12% higher than the national average. 

  • In 2022, family coverage premiums averaged $24,368, 11% above average and fourth most expensive in the country. 

How do healthcare costs compare in New York? 

The cost of healthcare in New York depends on various factors, including if you're insured or uninsured.  

For those who are insured, the following copayment averages for the more common healthcare visits apply: 

  • Primary Care Physician (PCP) visit: $25 

  • Specialist visit: $40 

  • Ambulance: $150 

  • Emergency Room visit: $150 (waived if admitted) 

  • Therapies (physical, occupational, speech): $30 

  • Inpatient and outpatient surgical services: $100 

  • Inpatient facilities: $1,000 per admission 

  • Prescription drugs: From $10 to $70 depending on tier 

However, it’s important to note that healthcare costs vary based on several factors. This includes: 

  • Location: Healthcare costs more in urban areas due to increased demand and higher living costs. As such, healthcare companies in New York City generally charge higher rates than those in less developed areas. 

  • Type of care: Specialist visits and advanced treatments are typically more expensive. 

  • Provider variations: Healthcare insurance providers, hospital reputation, and quality of care also impact prices. 

Forbes Advisor ranks New York State at 41 in its list of most expensive healthcare states. Its surrounding states rank as follows: 

  • Vermont: 13 

  • Connecticut: 15 

  • New Jersey: 31 

  • Pennsylvania: 46 

  • Massachusetts: 47 

What are the long-term care costs in New York? 

Long-term healthcare in New York can be high.  

Depending on the region, you can anticipate paying between $401 and $482 daily for a nurse or an annual rate of up to $176,016. A semi-private room would cost around $12,000 monthly, while a private room would cost more. 

In-home care services, such as hiring a home health aide, typically cost around $25 per hour, up to about $4,800 monthly for full-time care. 

Planning for these expenses is crucial as they can significantly impact your finances. Long-term healthcare insurance can help cover these costs, but it's essential to start planning early to be prepared for such eventualities when required. 

What are the healthcare costs for individuals vs. families in New York? 

The average cost of healthcare in New York for families and individuals differs significantly. Here's a breakdown: 

Insurance premiums 

  • Individuals: The average monthly premium is about $600. 

  • Families: The average monthly premium is around $1,700. 


Out-of-pocket maximums 

  • Individuals: The average out-of-pocket maximum is around $7,000 annually. 

  • Families: The average amount is around $14,000. 

You can get a better idea of your costs by using a healthcare cost calculator.  

How can I reduce healthcare expenses? 

Here are some strategies to consider to minimize healthcare expenses: 

  • Individuals should choose high-deductible health plans (HDHPs) paired with Health Savings Accounts (HSAs) to save on premiums and gain tax benefits. 

  • Utilize preventative care services covered by insurance to avoid future medical costs. 

  • Consider family plans with lower deductibles and comprehensive coverage to manage overall costs better. 

  • Take advantage of employer-sponsored health plans, which often provide better rates. 

  • Use in-network providers to reduce out-of-pocket expenses. 

  • Shop for the best insurance plans, compare costs and stay informed about their healthcare options to minimize costs effectively. 

  • Speak to an advisor who can help you decide which health insurance is best for you

What are the common medical visits and their costs in New York? 

The most common medical visits in New York State are doctor’s visits and annual checkups, dental cleanings, and eye examinations. Here's a comparison of the typical costs between New York, New Jersey, and Connecticut for those without insurance:

Annual checkups 

  • New York: $150 to $250 

  • New Jersey: $120 to $200 

  • Connecticut: $130 to $210 

Dental cleanings 

  • New York: $100 to $200 

  • New Jersey: $90 to $180 

  • Connecticut: $95 to $185 

Eye exams 

  • New York: $100 to $200 

  • New Jersey: $85 to $175 

  • Connecticut: $90 to $180 

These comparisons show that the cost of healthcare in New York is generally higher than in nearby states. This is due to higher living costs, demand for medical services, and provider pricing strategies in urban areas. 

How do you manage healthcare expenses in New York? 

Managing healthcare expenses requires a strategic and proactive approach. Here are practical tips to help: 

  • Choose the right insurance plan. 

  • Use health savings accounts. 

  • Negotiate medical bills with providers, e.g., review your bills and ask for discounts. 

  • Use affordable healthcare services, like community healthcare clinics, telehealth services, and pharmacies that offer prescription discounts. 

  • Understand your insurance benefits to understand what is covered and the associated costs. 

Get expert financial advice 

New York State healthcare was one of the most expensive in the US until 2023, when the Department of Financial Services cut the rate increases. We compared the healthcare costs of common medical services for individuals and families and ways to manage healthcare expenses. 

If you're looking for expert financial advice to help you find the best healthcare in New York, let Unbiased match you with an SEC-regulated financial advisor. 


Unbiased team

Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.