Is this a good price for insurance?

Question

I'm currently getting health insurance for me and my wife through my employer (who says they pay half). We have United Healthcare, and Aetna covers our dental. Under this plan we also have vision coverage.

I'm currently paying $320/month for our coverage and I'm think that we are paying way too much. I've talked to other people and they tell me they are only paying between $100-200 a month for the same amount of coverage. I'm 24 and my wife is 22 and we are both in good health and don't smoke - Does this seem like we are paying too much?

If so, is there any kind of personal coverage we could get for cheaper that covers vision, dental, and medical?

Answer 1

Depends on where you live and what kind of coverage it is.  At first glance $320/month is pretty good and I'm guessing your coverage is comprehensive.

But realize that it's not uncommon to find group rates that are twice the cost of individual rates.  That's NOT because the benefits are better.  It's due to the fact that you can be declined as an individual and the requirements are much more stringent

If you lived where I live I could get you full coverage for that amount which includes funding an HSA account.  So, if you didn't get sick you'd have savings built up at the end of the year.  OH, and it includes maternity, so "averages" do you no good because every state is different.

Feel free to check to tool on my site to see if it'll give you quotes.  It requires no personal information to use...

http://www.InsurancePickle.com  

Answer 2

It all depends. From one point it looks like yes, you are overpaying and it should be much cheaper at your age. And other people you’ve talked to indirectly sort of confirmed that.

I think what is happening most likely is that your employer just pretends that he is paying 50%. In reality he is just “wrapping up” individual plans for all his employees. This is pretty typical situation. I am not saying this is a 100%, but most likely.  What you need to do I think you should obtain multiple insurance quotes on-line. For example here:

http://www.healthinsurance.medgrip.com

and compare it with numbers you are currently paying through your employer. It very well might be you’ll find better numbers.

One more thing you should keep in mind when comparing. What ever you are paying through your employer is tax deductible. When you are buying Health Insurance by your own you should reach certain annual numbers, and only after that everything you’ll spend on health will become deductible. So I think you have a lot of information to chew on.

I hope that helped.

Answer 3

Well, the average individual, if you're 30 and healthy, for ONE person, no dental or vision, is going to run $300 a month - with no maternity benefits.

I promise you, you won't find individual coverage, even without dental, maternity, and vision, for two of you, for under $400 a month.

You guys are NOT comparing plans - or you're comparing EMPLOYER plans, and not taking into account that their employer is paying more than yours.  With health insurance, you get what you pay for.  

Answer 4

Comparing your $640/mo. plan (your half= $320) , to another at only $200 would take looking at the actual policies. There are huge differences in what is covered, what are the deductibles, what are the co-payments. It is unlikely that you could find a policy that covers as much as your current one for a similar out of pocket expense to you. Just look at your current policy and compare to others. The link is to a site that has some comparisons to private health insurance.  

Answer 5

make use of the SE like google or yahoo to get some ideas first if you want to get the massive information,however if you do not want to spend so much time,here is a direct and good resource for your questions.http://health-insurance.onlinebestoffer....