Health Insurance Costs Explained: What You Need to Know

Health insurance can be a costly and confusing expense for many Americans. With the average family spending over $22,000 on healthcare annually, it’s important to understand the different components of health insurance costs so you can make an educated decision about what type of policy works best for your individual needs and budget. Understanding premiums, deductibles, coinsurance, copayments, and out-of-pocket maximums are essential to get the most bang for your buck when shopping around for a new health plan.