Interesting facts on the State of Health Insurance in the United States

The facts below are taken from a recent on-line study on the state of health insurance in the United States. 

Did you know?

A recent on-line study found fully half of individual health policy holders pay less than $130 a month?

Some other interesting findings in the study show the average (nationwide) monthly premium for an individual was $158, the average family premium was $366.

Average (nationwide) deductible was $1,972 for individuals and $2,610 for families. The study also revealed women pay 18% more than men on average.

Also according to the study, premiums varied from an average low of $83 for North Dakota, to a high of $388 for New York residents.

In 2009 the average deductible is now $1,000, up from $500 two years ago.

Colorado leads the country with premium increases of 13.7% projected for 2009. The study indicated this was due to the predominate small employer landscape who have less bargaining power than larger employers in other states.

The gap is closing between Private health insurers and Medicare:

Another interesting finding was that the difference between the administrative costs of Private Health Insurers and Medicare is not as much as had been expected.

The most recent data shows Medicare’s costs to be about 3.2% higher than anticipated, while private coverage could be as much as 16% lower than what some other government studies had indicated. Experts indicate this is largely attributable to the fact that private insurers are more transparent about their costs than the government in general.

Not surprising, because of the older age range of Medicare patients, the average cost of annual health care per individual was about $6,600, whereas the same number for the private sector was about $2,700 per individual annually.

Do you need health insurance or need to adjust your current one?

There are ways to lower your health insurance rates.  Contact an insurance broker.