Medical Insurance Rate – Why Does It Change And How Is It Decided?
Are you shopping for health insurance? Are you looking for the best rates? Are you totally confused? There are so many people scrambling for health insurance and are trying their best to compare the rates. This is not easy at first because the health insurance companies have had to come up with creative alternatives in their insurance portfolios. Those creative alternatives can give the average person an insurance headache.
The rising costs of hospital and physician services are always passed on to the consumer. The consumer depends on their insurance company to pay for their medical expenses in exchange for a premium. The medical rates are based on several criteria.
Here are a few:
1. Gender Male/Female rates differ.
2. Tobacco – Non-Tobacco Tobacco users are higher
3. Household Status – Single, Parent-child, Parent-children, Husband-Wife, Husband-wife-child, Husband-wife-children
4. Deductible $500 to $5000 (with some companies)
There are some things that you can do to affect the rate. The most cost savings method is to choose a high...
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