One of the most popular questions around the nation today is how much is health insurance. People want to know what they are going to have to pay to protect themselves and their loved ones from illnesses and injuries.
There are many variables that can come into play when figuring how much health insurance costs. Not every person or family will pay the same rates for insurance each year. Below, you will find some of the things that can play a role in your health insurance costs.
Coverage From Employer
If you can get coverage through the company you work for, you will be able to get it substantially cheaper than you could get it on your own. Regulations set by the government are going through changes that could make it easier for employers to offer health insurance. This could help many people around the nation get insurance that they might not otherwise have.
If you do not have employer provided insurance, take some time to compare rates through different providers. Different providers will have different rates and policies. Spend some time looking through the fine print to be sure that you are getting an adequate amount of coverage for the price.
Does your health play a role in the cost of your insurance policy? Hopefully, this will not play any role in the cost of your coverage. There are four things that will be factored into the cost of your insurance.
- Your age
- Where you live
- How many people are in your family
- Whether or not you use tobacco products
The cost of health insurance today varies and continues to rise. Since 2009, the premiums for a family policy has risen nearly 10%. That might not sound like a whole lot, but it actually adds up to nearly $300 more each month just for the premiums. If you factor in the rising cost of deductibles, that seemly small 10% hits the wallet hard.
There are basic plans that offer very little coverage for as little as $50 each month, but those particular policies do not cover very much at all. The average quality health insurance policy will cost you upwards of $500 each month for an individual and up to $800 for a family policy. Keep in mind that these are just estimates and you could find coverage that costs more or less depending on what all the policy will cover and the deductibles that are set.
Needless to say, the amount of money you pay each month on premiums will make a big difference in the amount of money you will have to pay out of pocket for treatment when you fall ill or get injured. What seems to save you money now could end up costing you your home later.