Determining the average health insurance cost is a bit misleading in that health insurance is provided differently in different countries. In countries like England and Canada, taxes are assessed to fund their respective national health care programs. It would be more accurate to discuss the average cost of healthcare in different countries as a basis of comparison. A more general discussion can be had regarding the different types of health insurance offerings, by country.
In the United States, the average health insurance cost per month is $440 for individuals and $1,100 for families, or $5,280 and $13,200 respectively per year. Much of this cost is offset by employers through an employer-sponsored group health insurance plan. The majority of the health insurance provided in the United States is through employer-sponsored plans. National health spending in the United States represents nearly 18 percent of the gross domestic product (GDP) at $2.5 trillion dollars. This number is expected to grow to $4.4 trillion by the year 2018.
The average health spending as a percent of GDP is 8.4 percent. Spending in the United Kingdom on a per capita basis is $2,992, versus $7,290 in the United States. England, Wales and Scotland, which make up the United Kingdom, funds 82 percent of its health care with public dollars, under its National Health Service. This funding mechanism, which is true of most every country except the U.S. and Mexico, means that every United Kingdom citizen has access to healthcare.
Canada’s national health insurance program, which is similar to Medicare, accounts for 10.1 percent of the Canadian GDP. Health care spending in Canada is 8 percentage points lower than the United States. Total spending on a per capita basis is $3,895, or approximately $3,400 less than the United States. 70 percent of health spending in Canada is funded by the public sector, which is similar to the United Kingdom.
76.9 percent of German health care costs are funded by the public sector. Germany uses sickness plans that are funded by employer-employee contributions. Healthcare providers do not work for profit like they do in the United States and every German citizen is covered under the plan, which is known as the Bismarck Model. Per capita spending is $3,588 and health care spending represents 10.4 percent of GDP.
The French spend 11 percent of their GDP on health care costs. The amount of per capita spending on health care in France is $3,601.
The Mexican government spends 5.9 percent of their GDP on heath care expenditures for its residents. This number is 3 percentage points lower than the average GDP expenditure of all countries providing health care for its citizens. Per capita spending in Mexico is $824, versus $7,290 in the United States. Mexico uses a combination of employer-sponsored plans and government supported health insurance. 45 percent of health spending is supported by public sources. This amount is the same as in the United States, although spending in the United States supports Medicare and Medicaid.