How Much Health Insurance Costs

The monthly cost of health insurance depends what kind of health insurance you are looking for and what medical services are covered. Health coverage that are acquired through employer group plans are going to be different if you were to apply for individual policy yourself. When considering individual health plan for yourself what will determine your monthly rate is your age, where you life, your previous medical history, the type of health plan you get and what it covers. When getting a health insurance through employer group plan then your employer would be required to pay a portion of a health insurance. In most states employer required to pay at least 50% of the employees monthly premium and are not required to pay anything for any dependents.

In the most recent survey done to Kaiser Family Foundation employer sponsored group medical insurance said that in 2010 average premium for employee only is $421 and $1148 for coverage employee plus family. Portion of that premium would be paid by the employer and employee. If age is considered then the average monthly premium would significantly change. For some one who is in their twenties the average monthly is going to be a lot lower then some one in their fifties.

Recent survey done by eHealthInsurance on the average monthly cost of individually purchased medical plan is significantly different. The survey shows that the average premium in 2010 for individual is $161 and $392 for a family. Individually health plans tend to cost less even though it is counter intuitive. It would make sense if individual cost of health coverage in a group plan would be less. The reason for this is that you have to qualify medically for individual health plans and for a group plan you do not. That means you are lower risk once you qualify for individual health care and therefor you get a lower monthly premium. Just like with group plan the monthly average would change depending on the age of the applicant.

Keep in mind that the cost of the actual health plan varies dramatically based on what the health plan covers. Thins like deductibles, copays, coinsurance, maximum out of pocket, prescription coverage, dental, vision and other benefits, either increase or decrease monthly cost. It is always a great idea to get a quote for a health care yourself. Most health insurance quotes can be easily acquired online.

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