Posted: Fri Oct 31, 2008 6:39 am Post subject: Factors affecting health insurance premiums..
Hi..
I'm interested to know the different factors upon which our carriers would base our health insurance rates.
BarbieL _________________ Register Now to have your Insurance queries solved.
Well ..my friend, it depends a lot on the state that you're residing in. The state norms are very much applicable on the insurance provided by our employers as well as the individual plans. Medicare and other govt. sponsored plans are also guided by a set of state laws..Each such policies would have their own premium payment structures.
Purpleheaded08 _________________ Register Now to have your Insurance queries solved.
Employer provided health plans would charge the same rate from all the employees. The difference in health conditions would not make a difference in premiums. Only under circumstances when an employee has a pre-existing condition, his employer may charge him more for opting an individual plan. _________________ Register Now to have your Insurance queries solved.
I'm interested to know the different factors upon which our carriers would base our health insurance rates.
Obviously the most important factor is your health condition. If you are in good health and young, you’re likely to get the best rates.
The health insurance, especially the privately owned policies have become very expensive over the years. Hence, there aren’t many cost cutting techniques available to reduce the cost of the health policy, but good health can still fetch good rate. Therefore, it’s a good incentive to maintain a good health.
Smoking is another factor that influences the health policy costs. Try to quite smoking. The smokers are likely to pay more both for the health and life insurance policies. And that’s not all the auto and home insurance providers are also taking the smoking habit of the policy holder into account and are charging more as premium.
Hey, another deciding factor is the amount of deductible and out-of-pocket that you have committed to pay at the time of need. Higher deductible means lower premium. However, that may cause a problem to you since you’ll be required to pay the amount everytime you turn a claim to the insurer. Hence, you need to ascertain your ability to pay before deciding for the deductible amount.
An important consideration necessary to properly answer this post would be whether the OP is wanting information on individual or group plans. There is a whole world of difference between them, so it would be great if the OP could be a bit more specific.
Posted: Sat Nov 01, 2008 3:26 am Post subject: insurance
At a place where I use to work, they had that Supplementary In surance thing. ...disability, etc. A friend of mine couldn't get it because she had a Pre-existing condition...she has Lupis. She's such a sweet woman, but, no one will 'touch her.' Her doctor is very understanding that she can't get a 'regualr' medical insurance ( just can't afford it). So, her doctor lets her make payments.
Posted: Tue Nov 25, 2008 2:49 am Post subject: insurance
Ok...got a question ( for whoever can answer) I have a relative who DID have Medical Insurance at one time ( I don't know through who, however.) He has a drinking problem, and he's been in and out of the Emergency Room/Hospital with "alcohol related" issues. He is Diabetic and drinks alot of 'hard' liquor. From what I understand, his Health Insurance dropped him, because of being "too much of a risk." I guess, he's trying to find other Health Insurance, but, has been turned down because of this. Just kind of curious what else he CAN do to try to get Health Insurance again.
SD, the solution lies with him….try and quit alcohol use. There are lots of helping groups available to help people to quit their alcohol habits. The health insurance carrier was quite right by not providing him with the coverage. If he can get rid of this evil habit of drinking, he may manage to get the coverage again.
Posted: Tue Nov 25, 2008 8:32 pm Post subject: Premiums based on....
Also, if it is a group plan, you would have to know if it is a fully insured plan (as in the carrier is insuring the plan) or if it is a self insured plan. (The employer collects the premiums and pays claims). On a self insured plan you are usually paying a TPA to administer or adjudicate the claims. If this is the case than premiums are directly based on the amount of claims your group has had in the past 3-5 years and the national or regional trends for cost of health care. (Usually around 6 - 9 percent but they are looking at double digit increases for 2009) Hence the need for so called, "Wellness Plans". the basic concept is that premiums are based on covering the extrapolated risk of a group.(ie. how much will it cost to pay for all claims, administration, and consultation for any given year) _________________ Register Now to have your Insurance queries solved.
Posted: Tue Nov 25, 2008 11:19 pm Post subject: insurance
I agree, JEORGE. The solution DOES start with him. He;s been drinking most of his life. I don't think he's gonna quit anytime soon. He's been told the 'solution' before........he's just too busy blaming everyone else for his problems.
Posted: Mon Dec 01, 2008 4:18 pm Post subject: Moral Judgements
Wow! I did not realize this was a forum that made moral judgements. I assumed we were here to give professional advice and maybe learn a little in the process. I will rethink my appreciation for this forum. _________________ Register Now to have your Insurance queries solved.
I assumed we were here to give professional advice and maybe learn a little in the process
We are and we are all human, and anyone that says they have no moral compass that influences their opinions, is probably fooling themselves...
Quote:
I will rethink my appreciation for this forum.
You certainly need to do that, and in and of it's self would that not be a moral judgement?
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Posted: Tue Dec 02, 2008 5:04 pm Post subject: Hmm......
Actually, it was a professional judgement. Not a moral one. However, at your request I will no longer post on your forum. Have a great day and good luck with the forum! _________________ Register Now to have your Insurance queries solved.
