How much does individual health insurance cost?
These days, costs are as high as they’ve ever been. While it can be difficult to pin down an exact figure, most experts recommend spending 10 percent of your annual income on individual health insurance. It may seem like a lot, but remember that you’re getting peace of mind and security for your family. There are also tax breaks for those who purchase individual health insurance: For example, some can deduct premiums from their federal taxes in certain situations. It pays to do your research!
Why individual health insurance isn’t for everyone
If you have health insurance through your employer, individual health insurance is usually not worth it. Most group plans offer better coverage for less money than you’d pay in premiums. However, there are some reasons why individual health insurance may be a good option