Finance Tools
Family Health Insurance Cost Calculator
Estimate a family's annual health insurance cost based on premiums, deductible, out-of-pocket max, coinsurance, and expected medical expenses for each member.
How to use this family health insurance cost calculator
- Enter your monthly premium for the family plan.
- Enter the family deductible and family out-of-pocket maximum.
- Enter coinsurance rate (%).
- Add expected annual medical expenses for each family member.
- Click Calculate to see estimated family out-of-pocket and total annual cost.
Example
If your family plan premium is $450/month, family deductible is $3,000, family out-of-pocket max is $12,000, coinsurance is 20%, and expected medical expenses are $5,000 + $2,000 + $1,000:
- Annual premium = $450 × 12 = $5,400
- Total expected medical expenses = $8,000
- Estimated out-of-pocket = deductible + coinsurance (capped by out-of-pocket max)
- Total annual cost = annual premium + estimated out-of-pocket
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