Hello, welcome to this blog, today you’re going to know how much is health insurance in us per month.
Keeping your health good is very important and the best way to to do is to get health insurance for your health, it means the health insurance company will pay your medical costs, doctor’s cost when you get sick or unhealthy.
Let’s discuss about it in detail
What Is Insurance
Basically, Insurance is a contract between a person and an insurance company.
For example – There’re many types of insurance such as Life insurance, Health insurance and many more so basically in life insurance, you ‘ll have to pay some money according to your wish such as 300$ per month or 1000$ for full time, unfortunately if you die, the insurance company will pay you 5000$ to your family.
In health insurance you submitted 500$, the insurance company will pay your whole hospital costs for you
Think once how big it will be help for your family in bad time when you die unfortunately.
So this is how insurance works. I hope you got understand.
How many Types of Health Insurance
With the time, the insurance companies started to do insurance for many things like health, home, car, life, business, travel so there’re many types of insurance like Health insurance, Life insurance, Car insurance, Home Insurance, Business Insurance, Travel Insurance so on
Let’s discuss in detail
Life Insurance
Life insurance is a insurance in which a person pay some amount like 1000$ to life insurance company after that when that person die unfortunately, the 3x , 4x amount your family will get from life insurance company that will be the biggest help in your familiy’s bad time.
Life insurance is one of most important insurance in our life because you know very well that no one will help you financialy in your bad time but if you get life insurance, the life insurance company will give you some money according to your agreement.
There are two types of life insurance firstly is Term life insurance and second is Whole life insurance.
Term Life Insurance – term life insurance is that life insurance which is for some period like 10 years or 20 years or more than this. In this period you’ll have to pay some amount every month and that life insurance company will pay you some fixed amount when you die.
Whole Life Insurance – whole life insurance is a permanent life insurance it is continued as long as a insured person pay premiums.
Health Insurance
Health is very important in our life so everyone should focus in their health as well. You know everybody don’t have money all time and just imagine if you affacted from a disease and you don’t have money for taking medicines and for hospital costs what will you do in that case.
Who will help you?
The best thing to do is taking health insurance it means if you get health insurance and you pay some amount each month to health insurance company, then if you get affacted from any disease or you get sick, the health insurance company will pay your whole hospital costs and medical costs.
Car insurance
Your car is your asset so you should treat your car as a family member so you need to get insurance for your car as well.
Car is the part of our daily life we use car to go office and anywhere but emagine if your car got accident and stolen, in that case what will you do and you don’t have money in that time.
If you get car insurance, the car insurance company will pay repairing costs, accidental costs of your car.
Home Insurance
Home insurance is also very important insurance. Your home is your asset so you have responsibility to keep your home always safe from damages and incidents.
This type of insurance pay the costs of your home repairing, property danages and asset danages within your home.
Business Insurance
Business Insurance protects a insured person from unexpected costs such as accidets, lawsuit and so on. It’s helpful for every business owner who is running a business because it helps to stay safe from unexpected costs for your business.
If you get business Insurance, business Insurance company pay the cost of your property damage, business loses.
Travel Insurance
People loves traveling but what happened if something bad happens in your traveling journey like medical expenses, cancellation you can get insurance for this as, well.
This type of insurance protects you from incident occurred while traveling such as cancellation, medical emergency and so on so this type of insurance pay the whole costs for these incidents.
Why Is Insurance Important
Insurance is very important for people because there’s no any guarantee of our life when which events happens and no one can’t tell us.
So the best thing to do be ready now for those incidents. Let’s take an example of our health you all know how much health is important.
If you get sick and you don’t have money where you will bring money from for medicines. Who will help you?
In this case if you get insurance, you don’t need to worry about money because the health insurance company will pay the whole costs of your treatment.
You know that no one will help you financially in your bad time so why you are dependent on others, you need to depends yourself.
So insurance is your real friend in your bad times so it’s important for everyone to get insurance. Insurance can help your family to stay happy in your bad times.
What Is Health Insurance
Health insurance is most important in our life because if I have good health health mekes us happy in our life.
So health is important and for this insurance companies offer health insurance to people in which you will have to get insurance by paying some amount each month to health insurance company and if you get unhealthy the health insurance company will pay 3x Or 4x amount of your amount.
Health insurance is most important for people because when you get unhealthy no one will help you financially but health insurance company does without any intrest Or returns.
They will pay 3x Or 4x of your money that you have deposited so its profitable deal for you.
How Much Is Health insurance In Us Per month
Well it depends. It’s not fixed because many factors come into play. Like age, tobacco, location.
Age – Age is the factor comes while determining the premium of health insurance.
21 age is the base age of determining the premium the more than age of 21 , the higher premium will be
Tobacco – Tobacco is important factor while determining the premium because a tobacco user have to pay more than 50% premium than non tobacco users so this is the big factor you can say.
Tobacco affact your premium for health insurance.
Location – You’ll see the difference of price in different areas because companies offer different premiums for different areas.
Plan categories – All companies offer different plan categories that affacts the premium of health insurance.
Those plans are Bronze, Silver, Gold and Platinum and so on so you will see the difference of price among these plan categories in all health insurance companies.
I’m going to share a chart of average monthly health insurance price by age
Age Cost
21 $313
27 $330
30 $356
40 $401
50 $560
60 $850
Source – Healthcare.gov
How Much Is Health Insurance Without Subsidy
When you talk about health insurance you will see two health insurance firstly is with subsidy health insurance and second is without subsidy health insurance.
Both has different prices, with subsidy health insurance you’ll see higher price than without subsidy health insurance.
Subsidy health insurance is comes with affordable premium and it heps to cover some premium costs of health insurance.
According to Affordable Care Act ( ACA) the average monthly plan for single person is 438$ in 2022.
Conclusion
The premium of health insurance is depends on many factors such as person’s age, tobacco, location so its not fixed amount because many companies offer different plan categories so you’ll need to check out to their official website.
I hope you liked this article, if so please share this article on social media and if you got any question, you can ask me in comment, I ‘ll reply as soon as possible.
