Dental, vision and accident insurance – what are you paying?
We’ll soon be publishing a report at eHealth that outlines the average costs our customers pay for individually purchased dental, vision, accident and travel insurance plans. We know, from surveying our customers, that many consider coverage for dental and vision care to be especially important.
At eHealth we like to publish reports on cost and benefit trends because we think it helps people understand what’s available in the market. But more important that what’s available is what people actually buy.
Think of it this way: the average Ferrari costs around $200,000, but most Americans buy cars that cost a lot less. Just because a Ferrari is available, doesn’t mean everyone buys a Ferrari.
What’s in the report?
In our study we looked at the average premiums people paid each month for a sample of over 39,000 plans that we sold to individuals across 50 states and the District of Columbia in 2012. The full report will be available soon in our Media Center. but here’s a preview:
When we looked at 25,000 dental insurance policies sold through eHealth in 2012, we found that individuals (regardless of age group) paid an average of $30 per month for a dental insurance.
- HMO Dental: People who bought HMO dental plans paid about $20 per month. These plans tend to have smaller networks of dentists.
- PPO Dental: PPO dental plans cost about $34 per month on average. These plans tend to have wider networks of dentists for you to choose from, and many have coinsurance. Altogether, 34% of PPO plans had coinsurance and the average coinsurance rate per plan was 10%.
We looked at about 15,000 vision insurance plans that
we sold in 2012 and found that the average person spends about $18 per month (regardless of their age) for vision coverage. About a third of the people who bought vision coverage through us were between the ages of 25 and 34 (34% of all policies sold in 2012).
Accident insurance is popular these days. There are a number of companies that sell accident insurance on our web site, and the benefits can vary from insurer to insurer.
- Variation in benefits aside, when we looked at about 8,500 accident policies sold on eHealth last year we saw that people were paying about $25 per month for a plan, regardless of their age group.
- Over half the people who bought accident insurance through us were between the ages of 25 and 44 (59% of all policyholders in 2012). On average, men spent more for accident insurance than women – but not much, about $1.
- When we looked at 1,000 travel health insurance policies people bought through eHealth in 2012, we found that the average length of a trip people take when buying travel health insurance is about forty days. And, for 40 days of coverage, you can expect to pay about $75.
- At eHealth, the travel health insurance plans we sell are fairly customizable. For instance, you can pick your length of stay, the size of the deductible you want, and the amount of coverage you want – this can range from $50,000 to $1 million.
You can look for more detailed information about supplemental health insurance costs on our Media Center in the days to come. We certainly hope this information is helpful, and if you ever have questions about any of these products, you know who to call!