Cost is most likely a major factor in your choice of a health insurance plan. The cost of coverage has been steadily rising over the years for a total increase of 134 percent over the last 10 years alone. Although the rate that premiums are rising has slowed in 2015, many people find the costs prohibitive when shopping for coverage. How can you find a suitable healthcare plan that fits within your budget?
One of the best ways to compare health insurance rates and policies is by working with an agent in the Trusted Choice® network. These agents can help you review and understand policies offered by multiple health insurance companies so you can find coverage that is right for you. Contact a Trusted Choice agent near you to get started in your search for a health insurance policy.
- Cost of health insurance premiums for individuals and families
- Costs for both “in network” and “out of network” physicians
- Medication coverage
- Any limitations on visits to the doctor for illnesses, injuries and checkups
- Reputation of the health insurance company for service, quality and claims
- Expertise of the accredited physicians
- Reputation of the accredited hospitals
In independent insurance agent can help you find and compare health insurance rates for individual or family plans. Your agent can also help you understand the coverage specifics, such as drug benefits and policy exclusions, for a variety of healthcare plans so that you can choose one that is suitable to fit your family's needs.
How Much Does Health Insurance Cost?
Health insurance plan costs differ widely between policies, based on everything from regional differences to demographics, and of course the type of plan and the benefits included. Additionally, private health insurance rates are vastly different from rates for an individual or family in a group plan.
The average cost Americans pay for health insurance typically ranges from about $150-200 per month for an individual plan, though some plans may be significantly more expensive based on the amount of coverage they provide. Family plans are generally at least twice as expensive. Those who do not receive subsidized coverage through their employers can purchase a plan through their state's healthcare exchange, or marketplace. Most people who purchase insurance this way qualify for goverment-provided subsidies, which can help keep their costs manageable.
To find out what you can expect to pay for health insurance, you will need to contact your employer's H.R. department, request quotes from a private insurance company, or compare offerings on the healthcare exchange. To simplify this process, you can request the help of an independent insurance agent who can help you compare health insurance rates and plans and advise you as you choose an insurance policy that suits your needs.
Independent agents in the Trusted Choice network who specialize in health insurance are an excellent resource when you want to compare costs of various health plans. These agents can help you understand the terminology used by health insurance providers, answer questions and make recommendations based on your individual situation, and help you compare health insurance rates and offerings so you can make an informed decision.
What to Do About the Rise of Premiums
Increases in premium rates have three primary causes:
- Healthcare costs are on the rise.
- Healthcare is serving is an older population with more health issues.
- The Affordable Care Act requires insurance companies to cover more expenses than most did previously.
Healthcare costs have been rising steadily for years, sometimes at a rate that exceeds raises in pay. So, what options do you have for managing healthcare costs?
First and foremost, living a healthy lifestyle can reduce your medical insurance costs. For example, some healthcare providers will offer discount if you are involved in a health improvement program. Furthermore, insurance policies offered through the healthcare exchange charge higher rates to smokers than to non-smokers.
Secondly, if you have bundled healthcare, you can consider unbundling your plan so that you pay only for the benefits you need, as you need them. Then you can shop for the best price on the services you need and pay as you go.
Finally, the best way to manage costs is to compare health insurance rates on a number of policies. Bear in mind, however, that the least expensive policies are not always the best choice and can end up costing you more in the long run. An independent insurance agent can help you as you compare policies.
Compare Health Insurance Rates to Find the Right Policy
With health care costs rising and tax penalties now being assessed to those who are uninsured, consumers are becoming more concerned about healthcare insurance rates. An independent insurance agent in the Trusted Choice network can answer questions you may have and can give you a personalized quote on a variety of health insurance plans. Additionally, these agents can help you compare health insurance rates and plan benefits. For personalized assistance, contact a member agent today.