When looking at a choice of many different medical insurance plans that vary in coverage provisions and monthly cost, only you can decide what is an affordable combination for your budget.
No family is "average" but it is sometimes helpful to know what others are spending "on average" for medical insurance when making a decision to purchase new or replacement coverage.
Here is a summary of the key results from the largest survey* yet of U.S. health plans (0ver 16,485) and employers (11,723) who sponsor them:
2007 Benchmark Averages Across the U.S. for Medical Insurance
Average Premiums Increased 7.2% (all employer plans).
Average Premium for Single Coverage Increased to $347per month.
Average % Paid by Employee for Single Coverage is 26.6%.
Average Premium for Full Family Coverage Increased to $848per month.
Average % Paid by Employee for Family Coverage is 46.8%.
32.7% of Employers require 0% contribution by employees for Single Coverage.
8.3% of Employers require 0% contribution by employees for Family Coverage.
These are broad national average figures. It is important to keep in mind that premiums varying significantly by region of the country, by insurance carrier and by the "richness" of plan benefits. If individually covered, the insured's age and health status also affects costs.
* United Benefit Advisors Health Plan Survey 2007.
