Several factors will influence price for medical insurance.
Some factors you have control over and some factors you do not.
The main factors that affect your price for individual or private health coverage are:
- age
- gender
- zip code
- tobacco use
- healthcare history
- weight
- insurance carrier
- plan and options
The older we are the more likely to need medical care.
Since women carry most of the burden of creating the next generation, they visit doctors more frequently than men during their teens through their fifties.
Your City Your location can impact the cost of your medical care policy.
Usually, the more affluent the area, the more health care providers will cost.
This impacts the size of bills the insurance company pays for and of course these bills are passed on to their policy holders who reside in those locations.
Tobacco Use Most private health insurance carriers will penalize you if you have smoked in the last twelve months.
Smoking has a huge influence on your need for morbidity and therefore the costs a medical care insurance company has to pay.
Now you have one more reason to quit.
Health Status and BMI Your health status and your body mass index (basically your height to weight ratio) are very important regarding not only the cost of your private health care insurance plan, but also the availability of coverage.
Insurance companies do not have crystal balls, but they are great at analyzing statistics.
Individuals in different weight ranges have different health care costs.
It is not possible to fortell the future for one person, but when they analyze large numbers of individuals, they see definite patterns.
They have a very good idea regarding which healthcare conditions are most likely to cost them the most and will do what they can to keep their company profitable.
Sometimes it means they will reject an application.
Sometimes they will charge more and/or eliminate coverage for a particular medical issue.
Regular exercise and enjoying a health lifestyle can reduce your costs for your insurance plan keep you around longer.
Many health conditions are beyond our control, but most can be prevented.
Regular physicals, eating well, stress management and a myriad of other factors that are within your control can help you keep your medical payments down.
You probably have more control over your health than you give yourself credit for.
Your Choice of Carrier and Plan It really pays to shop around for healthcare coverage.
One insurance carrier may charge much less than the average price for health care insurance in your county and another may cost much more.
The carrier that has the lowest rate for twenty years old may not be the same carrier that offers the lowest price for those in their forties.
The same is true for different deductible ranges.
The insurance carrier that has the best low-co-pay HMO may have the worst premiums for an HDHP HSA plan.
Catastrophic Plans and HSAs are becoming more popular.
These policies may seem to have much less protection.
However, when you look at all the benefits as well as the costs, you might find that these plans are the best low cost option for your family.
Conclusion Some of the things that impact coverage prices can't be controlled.
However, you may find that some things are.
When you are considering new homes in different state, you may want to investigate the coverage rates associated with each vicinity.
You may want to check on programs that smoking cessation or weight management and find a system that will work for you.
Shop for the best combination of price and benefits, different carriers will have different costs for similar policies.
You don't have to contact all the companies that service your area, you can work with a broker who represents the multiple companies serving your state.
Finally, be open to higher deductible insurance options.
Most people's overall expenses will be lower if they handle the costs for the small things out of their pocket and let the insurance carrier pay for the big things.