How Much Should Health Plans Cost?
Healthcare reform has been a hot topic button that sometimes makes people feel as if they are going to vomit. With the economy that we are living in today, it's as if you literally cannot afford to become sick. The cost of health insurance depends on many factors, all of which impact your health plan's monthly bill.
Your Age
The older you are, the harder it is to get health insurance. Applying for health insurance is almost like applying for a bank loan: the insurance company would give it to you sooner if they saw that you really didn't need it. Elderly people are considered to be too much of a risk factor; therefore, their rates tend to be a little higher than normal. For many elderly people, federally-funded Medicare is available for any person over the age of 65. People who under 65 and have been on SSDI for at least for 24 months are also eligible for Medicare.
Your Health Condition
The better shape you are in, the lower your health plan rate. If you are a man in his 30s who works out everyday, eats healthy and wears a seatbelt, chances are your rates are going to be significantly lower than that of a person who is 50 pounds overweight, eats fast food three times a week and rides a motorbike everywhere he goes. If a person is diagnosed with a pre-existing illness, his rates will be higher than normal, as well.
Where You Live
Health insurance costs can also be determined by where you live. If Jane lives in a poverty-stricken neighborhood where the chances are high that she might become injured in a drive-by shooting, then the insurance agent will have to take that into consideration. If Mary owns a condo in Beverly Hills where it is relatively safe, her agent will note that and most likely give her a better rate than Jane.
Job Status
What a person does also can have an effect on how much a person pays for health insurance. Connie, who is a bank executive will have no problems getting a decent rate simply because her job isn't a high risk job for injury; whereas Ed, who is an armed security guard for the same bank, will probably have to pay a lot more than Connie because he could become hurt or injured on the job. Fortunately, many jobs have health insurance plans attached to its benefits packages. Ask if your job includes health insurance and what are the qualifications.
Your Income
There is health coverage for people who either have low income or no income. It is called Medicaid and depending on the amount of income you have, you can either pay a very low nominal fee or nothing. Medicaid is provided by the federal government and requires a somewhat lengthy application process.
Average Costs as of June 2011
$2,985 for a single person
$6,328 for a family
Premium for a New York family: $13,296
Premium for an Iowa family: $5,609