The average cost for health insurance in the United States is over $21,000. Even individuals pay about $7,500 per year to have this coverage.
If someone has traditional employment, a worker’s company typically provides about 75% of the cost of this benefit. The rest comes from a monthly premium that gets deducted from the employee’s paycheck.
When you’re self-employed, the total cost of health insurance is your responsibility. That’s why it’s often seen as a waste of money. That’s because the average family spends about $8,200 annually on health care.
That means about 11% of total income goes to the medical industry.
Is There a Better Way to Stay Healthy?
The only reason why health insurance would be seen as a waste of money is that you’re healthy enough to avoid going to the doctor.
Since everyone should get an annual checkup, you’ll need to compare the yearly expenses to the cost of insurance protection for the family.
If you’re self-employed and paying $21,000 per year, you might still save by paying out of pocket. Most insurance companies have negotiated rates with local doctors, which means it might be worth getting an entry-level policy to take advantage of those discounts.
When your employer pays for most of your health insurance, it makes sense to use that benefit.
Either way, staying healthy is a proactive method to use to keep costs low. By exercising regularly, eating more fruits and vegetables, and taking multivitamins from Quicksilver Scientific, you can avoid visiting the doctor’s office regularly.