health insurance premium

Factors That Effect Your Health Insurance Premium

health insurance premium

While many get their health insurance from their employer, over 26.5 million Americans have bought their health insurance directly from an insurance company.

It can be frustrating to learn that others are paying less for the same or similar heath care coverage that you have.  This leaves you wondering why?  The reason is that there are many different factors that can affect your health insurance premium. Here are just a few of the most common ones.

 

Age: This is a factor because the older you are the more likely you are to become ill.

Smoking/Tobacco: The harmful side effects of smoking lead to costly and chronic illnesses. In some cases, your health care premium can be 50% higher

Gender: Women tend to use their health care coverage more than men and tend to have more chronic illnesses than men.

Location: This has large effect on your premium and is based in the amount of competition, state/local rules, the cost of living for your location and health issues in your area.

BMI: A high BMI (Body Mass Index) can lead to health issues such as heart problems, diabetes and arthritis. Therefore, your health insurance premium will be higher.

Marital Status: As married couples tend to live longer and be healthier, the premium is less than for those who are not married.

Other Factors: The amount of coverage, your deductibles, co-pays you choose will affect the cost of your health insurance premium.

It is always best to shop around and compare costs and benefits for different health insurance companies. This can be a time-consuming process. When you work with us, we take the hassle out of trying to find the best coverage for you and or your family. We will find you the best policy for you that will meet your needs and budget. Need Help? Contact us today for a Free Quote