What is a reasonable price to pay for health insurance premiums?
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Asked November 11, 2013
There is no way to answer your question with a dollar value because the cost of coverage will vary for many reasons, including state regulations, insurance company calculations, the number of people on your policy, and the medical history of those people. The costs could be under $100 a month for a young single person in perfect health, or several hundred dollars a month for those with medical concerns that need to be addressed regularly.
Each person listed on your policy will increase the cost of your premiums. Someone with a preexisting medical condition will cost more to insure, and individual health insurance may not insure them at all, or at the very least apply clauses that limit the coverage. Age, gender, and medical history are some of the factors used to calculate your premiums.
Even your lifestyle can affect your health insurance rates. If you enjoy dangerous activities such as skydiving or mountain climbing, you present a higher risk to the insurance company, nonsmokers receive lower rates than smokers, and each member of your family who is technically obese is going to increase the insurance risks.
Health insurance plans are priced by individual insurance companies. To find the lowest rates, shop around before you buy coverage. Your employer may have the best deal, but check all of the groups and organizations you belong to because many sources of health insurance may be available. Insurance brokerage websites like this one offer free health insurance quotes, and often have the lowest priced plans because they provide quotes from competing insurers instead of representing only one company.
Answered November 11, 2013 by Anonymous