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What’s a fair average price for health insurance?

By on May 3rd, 2012
Filed: Facts, Health Insurance, You, Young Adults

How much are you willing to pay for health insurance?

eHealthInsurance recently sponsored a national survey of college students and recent grads. We’ll publish the results of that survey in the days to come, but here’s a little teaser.

One of our survey questions asked respondents to say what they considered a “fair” monthly cost for health insurance they bought on their own. Here’s what we found:

Current college students thought a fair monthly premium was $135. Recent grads (with a little more real-world exposure, presumably) thought $202 per month was fair.

So, how do these cost expectations match up to reality?

Pretty well, actually.

Our 2011 report on the costs of individual and family health insurance found that the average monthly premium paid for individual coverage for someone age 18-24 was $110. For policyholders age 25-34 it was $132.

In other words, despite that real-world experience, current students were more realistic than recent grads when it came to average health insurance costs in the individual market.

It’s not an apples-to-apples comparison, but according to the Kaiser Family Foundation, employer-sponsored health insurance in 2011 cost an average of $446 per month for single-person coverage. Of that, employees paid $78 on average and employers picked up the rest.

Check Health Insurance Costs

…Want to know more about what students and grads think about health insurance, student loans, and the 2010 health care reform law? Watch this space for more data from our forthcoming survey.


About Douglas Dalrymple

Doug Dalrymple is a member of the communications team at eHealth, Inc. and has worked in the health insurance and technology industries for fifteen years. He works on communications strategy, content creation and management, project management, and corporate messaging.

3 Comments Add Your Comment

rudy on Friday, May 4 @ 4:59 am

nice survey, but I think for some people that price is expensive.

Jeremy on Thursday, June 28 @ 1:08 pm

I think that if you delve a bit deeper, the costs of $132 were for people with no health history that would have gotten them denied coverage. Health insurance through workplaces have to cover people who would ordinarily be rejected by individual plans and the premium supports this reality.

Now that ACA will go forward, we will see how premiums will be affected by the influx of those who would have been denied coverage in the old system. I suspect that $132/month for individual coverage will be a fond memory.

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