HEALTH CARE COST ESTIMATOR                    

Many families struggle with unpredictable health care costs and ever-changing coverage.1  

This worksheet helps you determine what you pay for health care under your current health plan.                

 My Best estimate of the annual cost for my privately-funded health plan: 

$ _______ Private health insurance premium (including employee portion or Medicare Advantage)2 

$ _______ Health insurance premium my employer pays3

$________Dental premiums (if not fully covered by employer)   check here if no coverage ___   

$ _______Vision premiums (if not covered by employer)    check here if no coverage ___    

$ _______Long-term care premium (if not covered by employer); check here if no coverage _____ 

$ _______Co-pays and deductibles (include office visits & ER co-pays/deductibles)

$ _______Hospitalizations and ER (out-of-pocket in addition to copays and deductibles)

$ _______Medications (paid out-of-pocket)

$_______Other out-of-pocket expenses (Dental, vision, medical supplies and devices, wheelchair, etc)

$ ________ Total Health Care Cost for year 20____  for (___)  people in my family   

                                          

My Best estimate of the annual cost for me and publicly-funded health plan: 

 $________Medicare Part A premium (hospital coverage for ALL over the age of 65 at no additional cost)

$ ________ Medicare Part B premium (deducted from my SS monthly)

$ ________ Supplemental insurance (“gap” coverage) 

$ ________ Drug plan premium (Part D if Medicare)

 $________ Dental premium (if you pay privately for this)  check here if no coverage___ ___

$ ________Vision premium (if you pay privately for this)  check here if no coverage ___

$ ________Long-term care premium.                                    check here if no coverage ___

$ ________ Co-pays and deductibles (include office visits & ER co-pays/deductibles)

$ ________ Hospitalizations and ER (paid out-of-pocket)

$ ________ Medications (out-of-pocket, do not include premium listed above)

$ ________ Other out-of-pocket expenses (vision, dental, medical supplies, assistive devices, etc)

$ ________ Total Health Care Cost for year 20____ for  (___ ) people in my family        

 

My comfort level with my current health care plan is: Poor__  Fair__  Good__  Excellent__.

The percentage of my household budget that goes to health care is: __10%__, 20%__ 30%

 

What Americans are paying :      Range_(no predictable maximum exists)4

 Deductibles………………………………………………….………………..$0 - $5,000 (aver. = $1,300)5

Co-pays…………………………………………..……..…….……………....$20/office visit, $250/ER visit6

Medications ……………………………………………………………………$1,011/year7

Assistive devices…(Glasses, hearing aids, wheelchairs)……$200-$5,000/device                           

Dental care…………………………………………………..…..……………$50-$350/visit, $1,000-$5,0008

Long-term and nursing home care………………………….........$82,1288/year9

Home Health care………………………………………..................…$48,000/year full time10

Palliative care………………………………………………….……………..$73,000/year full time11

Medical supplies…(bandages, oxygen, catheters)………..…$100 - $5,000                                                   

E.R. visits……………………………………………………………………....$150-$3,000/visit12

Hospitalization………………………………….………………..…….….$10,000/hospitalization13

Lab tests………………………………………………………………..…….$100 -$5,000/test

A publicly-funded universal health care system can allow better health care for more people at cost per person lower than what most of us now pay in premiums and out-of-pocket. In a publicly-funded system, the premiums would go to a public service agency instead of a private insurance corporation.

                                                                                                                                    MH BT MB July 15, 2019

References: 

1.CNBC “Make It” Mar 22, 2018    tinyurl.com/yaqzkz3o   

2. Kaiser Foundation  Apr 27, 2017   tinyurl.com/yy6xe9lm(in 2017 average ~ $5,000)

3. Kaiser Foundation  Oct 28, 2016   tinyurl.com/yytv4yjk (Average family plan in U.S. $18,764 in 2017)

4. 2018 out-of-pocket caps (maximum you must pay) under the Affordable Care Act                …..$7,350 for individual and $13,700 for family, BUTthere is no cap if medical care …..was not approved,e.g., not in network or drug formulary. (Half of all bankruptcies are triggered by medical debt.)                                        

5. LA Times, May 2, 2019 tinyurl.com/yyganvwx(family average in U.S. is $1,300 for 2019)

6. The Balance March 12, 2019        tinyurl.com/y27dklbv

7. Commonwealth Fund October 5, 2017 tinyurl.com/yyszh29uAverage per capita expenditures for drugsin U.S in 2015 was $1,011 (out-of-pocket and by insurance).

8. Dental Work Cost                          tinyurl.com/yy4rxdrh 

9. U.S. Department of Health and Human Services      tinyurl.com/ycngfc45

10. Aging.com                                   tinyurl.com/y29ydvzv

11. Debt.org                                     tinyurl.com/y494ngqn.   Medicare or other agency will cover most of these costs if Hospice available.

12. The Balance, March 12, 2019     tinyurl.com/y27dklbv             

13. Business Insider Mar. 1, 2018   tinyurl.com/yyhqe32a