What’s a fair average price for health insurance?
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.
…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.