What is an Average Cost of Health Insurance in the US?

There are basically 3 main health insurance providers in the US - the Federal bodies, states, employers and private sectors. The average cost of health insurance varies, depending on the types of policy the individual opts for. Among all, policies granted by the government are generally cheaper and more reliable.

You have two options in the US. First, choosing the policies provided by the US government and at the same time going for the made available by insurance company or your employer. Alternatively, you can get a superseding insurance plan. It is a bit costly, but the future returns will be considerably good. There are some obvious advantages of the superseding policy. For instances, it covers health expenses like dental and chronic illness expenses
 

Average Cost of Health Insurance

Unfortunately, there is no definite answer for the question. It is because there are too many differences among the states and among the policies. How much it costs is determined by many other factors, such as your age, health conditions, occupation and so on.
 

Census and surveys done in 2009 provided an overview of what an individual health insurance cost in the US:

• The average annual premium was around $3,000 for an individual and $6,300 for a family.
  

• The costs were higher for those who are diagnosed with chronic disorders.
  
• The premiums differ for different levels of annual deductible. For instance, the average annual premium for a non-deductible family plan was around $12,700 while those with $10,000 annual deductible had an average annual premium of $5,400.
  
• The premium of some health insurance could go up to $10,000 per year. This type of health policy was meant for people who suffer from certain illnesses such as AIDS and cancer.
  
• For individual who took up group health insurance sponsored by the employer, the average premium was about $4,800 annually.
  
• Under the employer-sponsored scheme, a family plan would cost an average of $13,400 a year.
  
• Both figures of individual and family plan under the employer-sponsored scheme reflected the total cost and did not account for actual cost-sharing breakdown between the company and its employee over the out-of-pocket cost.

Options of Health Insurance Provided by the US Government

• Medicaid
  
• Medicare
  
• Federal Employees Health Benefits Program
  
• TRICARE
  
• State Children's Health Insurance Program
  
• Veterans Health Administration
  
• Military Health System 

It is always advisable to get a quote and understand your plan well before deciding to take up any health insurance policy.
 

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