Factors affecting your health insurance premiums
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Body Mass Index
People with higher BMI generally have higher insurance premiums. As your BMI increases, the risk and chances of diseases such as diabetes, high cholesterol, joint and heart problems are higher.
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Tobacco Use
Smoking cigarettes or chewing tobacco causes a higher risk of cancer and other diseases. Insurance companies charge higher insurance premiums or can also deny coverage. It takes up a lot of time even after you quit for the risk to decrease.
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Gender
Women generally pay higher health insurance as compared to men. Some of the reasons for this are women are subject to certain chronic diseases. Furthermore, women also tend to take prescriptions often and have regular doctor’s visit.
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Age
As you grow older, it is obvious you start diagnosing health problems. On the other hand, younger individuals are less likely to visit the doctor. Thus, the insurance premium is generally higher for older individuals
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Pre-existing medical conditions
Even though the insurance companies do not cover any pre-existing medical conditions, the premium is generally higher for those who have pre-existing conditions. Individuals with such conditions are likely to have other issues related to that which could lead to costly coverage for the insurance companies.
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Family History
Individuals with family history like heart diseases or cancer may have a higher premium as compared to those with no family history. This is merely due to the chance of incurring the cost of it in the near future.
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Profession
Individuals might be exposed to hazardous chemicals or radiation at work. They have a higher insurance premium than those with less harmful jobs. International business travel may also affect insurance costs.
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Zipcode
The place where an individual life affects the chances of having certain diseases. Weather at a certain location or lack of healthy food available, can reflect on people’s health. This causes to increase in the health insurance premium.
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Marital Status
It is generally considered married couples live longer than single individuals. Getting married generally reduces your health insurance premium.
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Previously Uninsured
If you have been previously uninsured, the insurance companies tend to believe that you might want to visit the dentist or physicians and other services as soon as possible for maybe unexpected symptoms. This increases the original cost of your premium.
These are some of the pointers you can take care of when getting a health insurance policy.
Insurance can be confusing. Empower Brokerage wants to help you understand what coverage you need and how to save money getting it. We want to help you stay on top of your health. CALL US at (844) 410-1320
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