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How Much Does Health Insurance Usually Cost?

It’s not easy to precisely measure the typical cost of health insurance. According to Kaiser, the average cost of insurance in 2008 for the employer was $4,700 a year for individuals and $17,700 a year for a family of four.

Generally customers who have to purchase health insurance on their own without going through an employer or other administration aid, will cost quite a bit more. Even though this can be offset a little with subsidization, people in California who use COBRA pay $380 a month on their premiums.

According to a U.S. government survey 84% of the population of the U.S. has health care insurance and 9% attain it on their own. The remainder are getting their coverage through a subsidized administration program of through their employer. Sixteen percent of the population does not have any insurance at all. This should give you a hint on how expensive health insurance is.

According to the Kaiser study, it’s understood that an individual policy will cost more than $4,700 through an employer provided health care program. If the same policy is purchased on your own, it will cost considerably more and the cost can go up with age or health complications. So when looking into health plans you can use employer based policies as a starting point.

Considering the fragile condition that today’s health care system is in, it’s hard to tell what future cost of health insurance will be.

You best bet is to get your insurance through your employer if the provide it. As a temporary form of health insurance you can use COBRA and if you are 65 or older you can apply for Medicare and Medicaid. Or you can get your health care from a clinic.

Unfortunately the cost of health care insurance is just going to escalate unless the government makes some major changes to the American Health Care system.

Last Modified April 7, 2010 @ 10:54 am
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