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Most of our health insurance clients qualify for financial help from tax credits to reduce their monthly payments. Tax credit subsidies are only available over the health insurance exchange in your state. Hummingbird Insurance is based in Asheville, NC and is able to help everyone in North Carolina, South Carolina, Virginia, Tennessee, Georgia, Florida or Alabama - online, over the phone or in person.

The impact of spending habits on Individual and Group Insurance Rates

Research shows that just 1% of the population – those with the highest spending — accounted for over a fifth of health spending and that just 5% of the population was responsible for half of all national health expenditures. On the other side of the spectrum, the lowest spending half of the U.S. population accounted for just 3% of total health spending. A recent study by the Peterson-Kaiser Foundation found that out-of-pocket spending was about as concentrated as overall spending, with 1% of the population accounting for one fifth of total out-of-pocket health spending.

People who are older as well as individuals who have been diagnosed with certain serious or chronic health conditions account for a larger share of health spending. People over age 55 accounted for nearly half of total health spending in the U.S., despite representing only a quarter of the population.

So how does this impact the average shopper for individual or group insurance?

While spending patterns may, in certain instances, highlight inadequate access to care, variations in spending generally mirror differences in health needs.

The more you can do to regulate your health needs (a healthier lifestyle and taking preventative measures with diet and exercise), the lower your health expenses are likely to be.

Household health spending increases significantly when health status worsens, largely due to the additional out-of-pocket costs associated with greater use of health care services. A family of four in good health with employer-sponsored coverage and earning $100,000 per year spends about 12% of their income on health care. If at least one member of the family reports worse health, household health spending increases to 15% of their income.

Our experienced individual and group insurance experts can guide you along the path to successful coverage.

If you are able to determine that you expect to incur higher than average health care costs then it's possible that a  traditional or obamacare type health insurance plan will work best for you. If you are more likely to have below average health care costs then you may be better off selecting one of our ACA Alternative Plans.

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Insurance for individuals, families and employers. We specialize in employee benefits, Medicare, health, dental, vision, life & disability.

Hummingbird Insurance is an independent authorized agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina (BCBSNC). The content contained in this site is maintained by Hummingbird Insurance. Blue Cross and Blue Shield of North Carolina is an independent licensee of the Blue Cross and Blue Shield Association. ®, SM  Registered marks of the Blue Cross and Blue Shield Association.
Products from Blue Cross and Blue Shield of North Carolina® (BCBSNC) are only available to North Carolina residents and employers.

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