Health Insurance Monthly Cost Information
Having a health insurance could protect and secure your life from the threat of expensive health care and treatment. However, counting the cost of health insurance itself is essential to minimize the inefficient spending. As a result, knowing the types and how health insurance works could help find the health insurance monthly cost which ideally you should pay.
There many ways to pay the insurance cost. Most citizen pay cost through the cut of their salary that means the health insurance is arranged in employer benefit packages. It causes people losing their health insurance when they are no longer working. Another cause is the varied levels of insurance owned by employers are based on the position and salary. The higher of working position a person has the higher cost that should be paid.
Health Insurance Types
Private health insurance: like its name, this type of health insurance adjusts the owner’s need. Only a few of treatments or diseases that it does not cover. However, it can be more expensive compared to the public government since it is fully funded by your own money and no subsidize.
Public or government health insurance: more relatable because of the subsidized, a premium is exchanged in this insurance. Free-for-service plans: in this plan of insurance, the patients are still required to pay 20% of the treatment while the insurer pays the rest. This plan also does not cover all types of treatment and diseases; it is just based on the preferred place of treatment.
Managed care plans: in this insurance, the insured is chained only to certain clinics or hospitals. The insured will get lower cost in the clinics but higher cost if the treatment involves outside the clinics. Preferred provider organizations: almost similar to fee-for-service plans, the insured is linked with hospitals or clinics and free to choose any doctors. However, for the out-of-network treatment, the insured could still pay less.
Health maintenance organizations: the treatment of this type is more organized. The organization will directly arrange the physician and even negotiate the fees of medical service. Point-of-service plans: the last type is a mix between health maintenance organizations and preferred provider organization type. With a more flexible choice, the insured could choose the caring physician and decide to receive provider or non-network provider for the treatment.
The Average Health Insurance Monthly Cost
As the health insurance cost varies, there are many factors that determine it such as the types, nations, ages, and others. In general, these are the health insurance monthly cost lists based on some aspects.
Based on a metal tier in a month:
- Catastrophic: $167
- Bronze: $315
- Silver: $362
- Gold: $420
- Platinum: $498
Based on age
- 18: $152
- 18-24: $177
- 25-34: $239
- 34-44: $303
- 45-54: $400
- 55-64: $580
Based on plan type
- HMO: $230
- POS: $244
- PPO: $251
- EPO: $254
Those are the health insurance monthly cost in various contexts. You could do some more research on different organizations for more detailed costs. Then you can decide which health insurance that suits you most.