How Much Should I Pay For Health Insurance
How much should I pay for health insurance? A basic yet very important question that every individual should know before applying for any health insurance. Based on the recent data, the amount of annual healthcare cost that average American pays is quite high, a bit under $10.000 in 2012. This number has significantly increased from only $7.700 in the year of 2007. But in the years ahead, the number is predicted to continue having sharp increase. It means the American should pay more for their health care that they need to get a job that allows them to pay that much.
The Breakdown of the Cost for Health Insurance
If you never have health insurance before, it is necessary to know how the cost of the insurance breaks down into details. This way, you can learn where you spend your money and what benefits will be available. For individual, the monthly premium is as low as $321. As for the family plans, the premium is at $833 per month. Meanwhile, the amount of annual deductible is around $4.358 for individuals and $7.983 for the family plans.
From the break down above, every individual should pay at least $8.210 per year while the family should pay around $18.000 per year. Not a small number of money that definitely requires decent job to be able to pay for it. But remember, this number hasn’t yet taken additional co-insurance responsibility into account. It means the number can be much higher.
How Age Affects
As we all know, age does factor in when it comes to insurance. The young people in average can enjoy lower premiums compared to those that the elderly needs to pay. It is based on the fact that most young people don’t have saving as much as the older people.
Principles on Buying Healthcare InsuranceWhen it comes to buy health care insurance, you cannot just consider is as buying other products. It’s totally different and requires particular considerations. The fact is spending on healthcare is actually very subjective. We all know there is nothing more precious than our health. But on the other side, we also know that there is high price we must to pay in order to protect our health. For those earning a lot of money, health care should not be something that bothers because they can afford it easily. But for other individuals and family with low income, health care can be a burden that they should afford it anyhow.