The field of health insurance is a bit complex, as there are multiple policy providers of insurance. The three principle providers of insurance policies include, the employers, public or state or Federal bodies, and lastly the private sector insurance policies. Per say, the average cost of health insurance for individuals and families is different as per states, health insurance policies, coverage, deductibles and underwriting. Health insurance average cost theoretically, depends upon the insurance policy that the person opts for. Government granted health insurance policies are, of course, top of the range for all consumers and are also reliable and cheap. In the United States the common man has two very good options. First, opt for health insurance policies that are provided by the government. In addition to that, have a insurance company's policy or have a employer's insurance policy. The second aspect is a bit different, as taking up a superseding 'big' insurance policy can also turn out to be very good. The policy cost may seem to be a bit high, however, the total premium and the returns that you will receive in future are very good.
The advantage of a superseding policy over many other health insurances is that it will cover many health related expenses and risks, such as dental insurances and chronic illness expenses. The advantage is that the paper work and multiple payments are reduced down to just one annual transaction, and you and your family will be insured for a lifetime.
What is Average Cost for Health Insurance
If you are asking for average cost of health insurance then it is impossible to give you a straight answer, due to the fact that there are a considerable number of differences in the costs from state to state and policy to policy. The following points cover some costs and figures that you should certainly consider while researching for a health insurance policy that suits you the best.
- A more generalized answer, let me state that as per 2009 census and surveys, an average of $2,000 to $3,000 are required for a standard individual health insurance policy.
- In circumstances where the person suffers from chronic disorders such as diabetes and blood pressure, the cost of premium goes up. An additional program is offered by some insurance companies where the person concerned can avail different compensations and claims against expenditure that is insured, as a result of the disorder.
- In cases of families the annual premium cost goes up to $6,000 to $10,000, depending upon the number of members and chronic disorders.
- An excellent addition that can be availed in an individual policy, as well as family health insurance policy, is the maternity insurance. There are different health insurance plans and conditions that can be availed in this process. Some policies cover all prenatal expenditures, plus the expenditures during the birth. Some policies however cover the expenditures that are incurred during birth.
- Lastly, some individual health policies are specifically meant for individuals suffering from certain diseases such as cancer and AIDS. Though the premium might be as high as $10,000 per year, the companies have reliable tie ups with the medical system that enable people to ease their pain and smile, without having the nagging worry of a medical bill. In many cases such policies have also enabled patients to get specialized medical attention that has cured the disease.
What are the Options of Health Insurance
The best option for medical insurance and health insurance include, the following United States programs…
- Federal Employees Health Benefits Program
- Medicaid
- Medicare
- Military Health System
- TRICARE
- State Children's Health Insurance Program
- Veterans Health Administration
Apart form the governmental insurances, you can avail private insurance policies. In such policies, an average young adult will have to pay about $54.00 to $68.00 per month. Some other cost figures that you can consider to aggregate your average cost of health insurance per person, include…
- On an average premiums of policies for people who are below the age of 18 range from $1,000 to $1,500.
- For people above the age of 60, the premium amount will be about $6,000.
- The out of pocket expenditures will amount from about 5% to 15%, or in some cases more of the expenditure.
- For non payment of premium policy a requisite interest, that can be as high as 10%, is levied.
- For married couples in the age group 20 to 50 a maternity insurance is included in the expenditure (read: how much does it cost to have a baby for reference). The premium increases as per age of the insured people.
- You may have to take up some minor additional insurances such as dental insurance that has a premium ranging from $200 to $500 per year, to cover up uninsured aspects of health care.
- Long term care insurance is a bit costly, and even though in many cases it is organized by the government, it might have a premium that goes as high as $10,000. Though average all-inclusive policies have a $5,000 to $6,000 premium.
When you opt to go in for an insurance policy, it is better to calculate and observe the health insurance quotes. I hope that the elaboration of average cost of health insurance proves to be of essence. Lastly, if you are looking for some temporary arrangement, have a look at some low cost health insurance or even short term health insurance. Good luck.
