Health insurance has become an important aspect of everyone’s life. It helps in bearing all the immediate and expensive medical expenses incurred during hospitalization. At the time of choosing a health insurance plan, certain factors must keep in mind to take a wise decision. The most important ones are pre-existing medical conditions, gender, body mass index, age, marital status, etc.
Understand here about those factors in detail-
Pre-existing medical conditions
The applicant or policyholder needs to provide their health records to ensure that they do not have any of the pre-existing medical conditions. In case, if they are dealing with any of the pre-existing medical conditions, then the company may not issue any policy or may decide that in your policy not to cover that pre-existing medical illness. Apart from that, you may have to pay a higher premium in that condition to include that medical illness in your health plan.
Family medical history
If any of the family members of the policyholder is facing certain medical ailments, in that case also, a higher premium is applicable. If the applicant’s family has a medical history of illness such as heart diseases, cancer, or any other severe disease, in that case, insurance companies cover those diseases by increasing the individual’s rate of premium.
Body Mass Index (BMI)
People who have higher BMI significantly pay more premium as compared to those who have normal BMI. The reason is the same that people with a higher BMI may need specialized treatment such as the case of pregnancy. As for high BMI policyholders, even a simple medical procedure becomes a tedious one.
Making use of Injurious substances
Many of the insurance companies increased the rate of premium for those who have smoking habits or habitual of chewing tobacco. It is also believed that they are most prone to getting life-threatening disease i.e. cancer.
Many policies are having different premium rates for women and men. The reason they give is that women are most likely to visit doctors and are more subjected to chronic diseases.
It is one of the most important factors that insurance companies consider at the time issuing health insurance policy to anyone. All young individuals that are up to the age of 45 are liable to pay less insurance premium as compared to those who are above the age of 45 years. It is also believed that young age policyholders are less prone to health problems.
Choice of the profession
All those policyholders who are working in environments where they need to make use of hazardous substances such as chemicals, feel the radiations or may have a high risk of injuries like in the profession of construction; falls under the category of paying high premiums since they are more prone to the risk of having cardiovascular diseases.
For married people, insurance companies offer lower interest rate premiums. The myth regarding the lower premium is still not clear about the same. But the men who are married avail of the better benefits with the status change.
All those who are new to Health insurance
If you are new to health insurance, in that case, insurance companies charge a higher premium. Insurance companies believe that all those who are new to health insurance would start making more visits to the doctor to reap the benefits of the health insurance policy.
Location of stay
Many insurance companies consider the location also as a factor affecting health insurance premiums. If you are living in a place where the climate is not favorable or lack healthy food options, then also you need to pay a higher premium.