Saturday, February 28, 2009

What affects the cost of Health Insurance?

Health insurance is just another form of insurance like car insurance and home insurance. It is another type of protection that covers you against unexpected expenses that can arise from injury, accident or illness. It's a smart investment. You pay a little to get more out of that when you are in need.

There are various plans of health insurance and you need to choose as per your requirement. The premium amount will vary on the plan you choose. Actually there are few other things which affect the premium amount. It's your personal habits that affect the cost of medical insurance.

Here I will discuss three major personal habits that could greatly increase the premium amount that it cost to purchase the medical insurance policy.

1. If you drink alcohol regularly, you are just reducing your lifespan. If you are not a regular consumer of alcohol, it won't affect your health so much, but over consuming it may cause you to pay more for your health insurance. Are you really willing to pay more for health insurance so that you can consume alcohol?

2. If you are a smoker or use any type of tobacco products, the insurance company is going to raise the premium for health insurance as high as they can. Tobacco causes everything from cancer to heart disease. If you are a user of tobacco, expect to pay more premiums for health insurance cover.

3. If you are overweight, you may have to pay more for insurance. You must have noticed that while filling up the form, insurance company ask for your height and weight. If your weight is more in proportion to your height, insurance company can charge more for your premium.

There are other personal habits that can affect the cost, but these are more common that I found. If we can avoid these three habits, we can save money while purchasing a health insurance.


Anonymous said...

Thanks for you information, In my search for health insurance I also found this place that its very useful to find the right insurance

LLnL said...

I am actually looking into health insurance now. It makes since why the rates would have to be adjusted for each health risk. I wonder if it is better to wait until you loss weight to get better rates or just get what you can and shop around later.