Premium Costs: Know What Makes it Expensive

Surely there is no telling of when people can get sick and how bad it can go. In today’s harsher environment, the best thing that can be done is to get ready and be prepared for any health-related issue that can arise at any moment’s notice.

 

Getting insurances and being secured like having Humana Medicare Advantage 2019 is a very good move in terms of protecting one’s finances. They sure can come at a cost but it’s all worth it when the moment comes.

Factors That Affect Premiums

 

Some people pay higher premiums compared to others and this is not just because of the kind of insurance policy that people avail. There are factors that help healthcare providers and companies compute the premiums of health insurance.

 

  • Women are billed higher compared to men who avail insurance plans. But this is not just being sexist. Women go through pregnancies and these are expensive. And to be able to cover deliveries or even check-ups, premiums must go higher. Also, women go to the doctor more frequently compared to men.
  • It’s undeniable that people have more chances of getting sick as they grow older. This is why it’s more expensive to start availing health insurances when in the older population. Younger people have fewer health issues (diagnosed and undiagnosed) which make their premiums lower in price.
  • Body Mass Index. Part of calculating the premium costs is a person’s Body Mass Index. This follows the premise that people who have higher BMIs have more chances of getting sick or develop health issues like diabetes, heart problems, and even problems related to the bones.
  • Pre-existing Medical Conditions. Insurance plans for people with pre-existing medical conditions can be costly. Companies usually worry about how people with these conditions are going to be as the policy goes on. It even comes to the point that companies no longer sell insurance policies to people with pre-existing conditions.

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