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In the wake of the Obamacare era, people are wondering how the recent changes will impact how much health care will cost. Indeed, while there seems to be an effort to create a world in which healthcare is free or affordable for everyone, we have a way to go before we get there. With healthcare literally being vital to our health, it only makes sense why some would be anxious about the topic. That said, let’s look at how much health insurance will cost you.
Although American healthcare costs tend to be a tad on the high side, healthcare premiums tend to be drastically lower. According to the Milliman Medical Index, which tracks these things, healthcare costs exceeded $28,000 for a family of 4 in 2018. That includes the average cost of insurance paid by companies and workers, as well as deductibles.
Fortunately, most of us are not responsible for paying nearly that much. For instance, although the total healthcare costs of individuals are said to be around $18,764 annually, out of pocket costs, such as premiums and co-pays, are only about $5,714 per year.
Still, that’s nothing to sneeze at. If you’d rather be making money on your health than spending it, check out this app called Healthywage. Healthywage will pay you real money for completing weight loss challenges. Sure beats paying another co-pay.
The Affordable Care Act introduced a tiered system of healthcare coverage. Although there seems to be some effort to revamp the system, the healthcare system maintains the tiered option. Depending on which package fits your needs, the prices break down as follows:
Overall, healthcare coverage can be costly but it is also very necessary. No matter if there is a mandate or not, purchasing the proper health insurance coverage is the only way to prevent yourself from incurring huge healthcare costs. Once you have those huge medical bills, digging out from under a heap of medical debt requires strict discipline and sometimes outside help, such as loans and even debt consolidation.
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