How much for health insurance?

Question

I am 23 years old & I'm fixing to graduate from college. I will no longer be covered under my parents insurance & I want to buy some. I've always had wonderful insurance with Blue Cross/Blue Shield & I'd like to have the same kind of great insurance when I purchase it after graduating. I just want dental/maternity/maybe optical/and the other basics. Ballpark, how much would insurance be on me? When I get married will it be cheaper to cover both of us? What will that price be? I'm very healthy & do not smoke.

Answer 1

For good coverage maybe $800 - $1,000 a month for all you are asking. The basics maybe $500. People dont realize just how much employers (or others employers) pay a month on insurance till they have to pay it themself.

Answer 2

Generally, after college one gets a job and depending on the employer, medical coverage is part of the compensation package. It may not be what your parents had; it could be better, but most likely it will be worse. Employer's are attempting to hold the line on health care costs by offering a variety of products, from High Deductible Coverage, with a tax deductible Medical Savings Account which is vested ("owned") by the employee, similar to an Individual Retirement Account, to a "Cafeteria" Indemnity Plan, which has a tax deferred Account, wherein the employee elects to have a specific sum deducted form his/her pay, to be used for medical expenses, such as deductibles, offie visits, prescription drugs, etc. The drawback is that the "cafeteria" plan's account is a "use it or lose it" account. Which means that monies not spent reverts back to the employer.

The plan that you have described: basic coverage with dental, (maternity is considered an illness like any other and is covered under the general plan), optical, depending on the level of deductible (minimum of $500 single/ $1000 married.) you choose, and the co-pay (the amount you pay after the deductible has been satisfied) as wll as the Out of Pocket Expense provision (after the maximum of say $10,000) the insurance company will pay for all expenses, will cost you (as a single) between $800 - 1400 per month, depending on where you live.

Then there is also the Weekly Indemnity (weekly income while you're out sick, beyond 5 days), Long term disability benefits, and Convelescent Facility benefits.

I would recommend that you contact some (3- 5) insurance companies in your area and discuss your intentions with them. They'll be able to give you a better estimate as well as an explaination of the limitations and obligations of the various plans.

Answer 3

Figure a minimum of $400 a month for an individual plan . I have Aetna, and my company pays $380 a month just for me. My parents are self-employed and pay about the same for the exact same coverage.

If you don't purchase insurance thru an employer, you're going to pay much more than a group plan. Reason being - many insurance companies don't want to sell to an individual - they often get screwed on the premium payments = with a company, they don't usually.

Answer 4

You can't buy maternity without regular health. For just you, it should cost $200 - $300 a month. If you have a job, your employer usually pays most of it. If you get married, It will probably cost about $400 a month, and after the baby is born, for 3+ people, $500 - $600 a month.