Collective Health Online is offering online health insurance for an estimated $2.5bn in the next five years, according to a new study.
It said the market for health insurance is currently worth around $4bn a year.
Collective Health said the average household’s health insurance costs will be $5,000 a year in 2020, while the average family’s premiums will be around $3,400 a year for 2017.
According to the study, the total cost of a family’s health coverage is $1.3bn.
It added that, based on a family of four, the average health insurance premium will be about $8,600 a year, or $4,300 a month.
However, the study also found that the average monthly premium will increase by about $250 a year from 2019 to 2020.
The report also found the average employer’s health plan will cost $835 a month in 2020.
The average annual income will be up from $57,200 to $89,000.
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