What Determines Premium?
When you apply for a health insurance policy, especially an individual one, you will find that the rates may be different between two individuals. When determining the cost to the individual, the insurance adjuster takes many things into consideration. Here are a few of them.
Age
Because the human body tends to "fall apart" more with age, there is a great likelihood that your rates will be raised to reflect the increased possibility of needed medical care. There may even be the possibility that you will have difficulty getting any insurance.
General Health
Your present health has a great tendency to effect your rates. If you have a history of things like heart problems, cancer, high blood pressure, etc., you can expect higher rates, because these things are known to bring even more severe health problems, and possibly death.
Habits of Life
While you certainly cannot effect the above two things, here is one that you can have some control over - if you want. It is well documented that smoking, drinking, dangerous sports, or hazardous occupations, can definitely shorten the life, or bring about increased medical problems. If you engage in any of these, you can be sure that your rates will be high - possibly even higher than you can afford. If your occupation is hazardous, then you can probably get group insurance at near reasonable rates.
On the other hand, you can reap some benefits and lower your health insurance costs if you live a healthy lifestyle. This includes not doing those things in the list above, and adding a couple of things that you regularly participate in. For instance, if you exercise regularly, and keep your weight down to what doctors consider to be safe, then it can also bring your health insurance premiums to where you want them to be. This may include regular doctor visits - which some of your HMO's and POS's provide for you.
Insurance Costs
This refers to how you use the plan, and how often. To reduce the cost of your premiums, you will want to increase your deductible amounts. Another way that might work for you is to see about getting a tax-deferred savings plan that works with your health insurance (HSA). All your medical expenses would be tax deductible.
If you have a plan that allows you to go anywhere for your medical services, find out beforehand how much they will charge. If it is high, then see if they will either reduce it for you, or go somewhere else. This could effect how much you pay either through copay or coinsurance - possibly increasing your costs in other ways. Another way is to get the doctor to prescribe generic prescriptions and look for low cost medical supplies.
Another good way to save on premium costs is by performing comparisons between various policies and choosing a better deal. By going here you can get your own quick and free online health insurance quotes, and soon be on your way to getting a good medical policy for you and your family.
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Free Health Insurance Quotes
By comparing health plans with other rates, you should be able to find the right plan. You can get your free health insurance quotes at the following sites:
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