Insurance Marketplace, Inc Blog
Since the pandemic, the number of individuals availing of health insurance has rapidly increased. This ensures that you have a financial backup when something unexpected happens. Apart from individual policies, people also purchase health insurance for their loved ones to keep them financially secured during emergencies.
As a health insured individual, you also want to know the different factors influencing the amount of your health insurance. Various health insurers follow different guidelines to determine your premium cost.
The following are some of the common aspects that health insurance companies consider when fixing your premium charges:
Smokers are more susceptible to lung-related diseases. Health insurance companies consider individuals with bad smoking habits as risky insurance buyers. Thus, they will charge them a higher premium cost.
Nature Of Work
The risk level of your occupation could also affect your premium charges. If your work is not associated with severe risks, you will be paying less for your insurance cost. Conversely, if your work is more likely to cause you to get injured, you will need to pay a higher price.
BMI (Body Mass Index)
Another factor affecting your health insurance cost is your body mass index. Individuals with high BMI usually pay higher premium rates. Higher BMI is associated with different ailments, such as cancer, heart diseases, and hypertension.
Previous Medical History
Your health insurer will also check your medical history in deciding your premium rates. If they find that you have a pre-existing illness or suffer from diseases, they will set higher premium costs. But, if you have a healthy life and are free from severe illnesses, you will enjoy discounted insurance rates.
One of the critical factors that significantly impact your premium amount is your age. As the rule of thumb suggests, health insurers will charge a higher premium to older individuals. They believed that older people are more likely to develop illnesses than the young generation. Thus, it is ideal for getting your health insurance during your teenage years.
Health insurance companies charge individuals with different premium rates. And these are being affected by the factors mentioned above. To keep a lower health insurance rate, aim to maintain healthy living.
At Insurance Marketplace Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (541) 779-0177. You can also request a free quote by CLICKING HERE. The coverage discussed is not guaranteed. Please contact our agents to make sure you have adequate coverage and your needs are being met. We are happy to help!
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