by amit » Wed Feb 11, 2009 11:42 am
According to a study by the National Women's Law Center, a 25-year-old woman in the Lone Star State will pay as much as 22 percent more than men do when buying individual coverage if she is not covered under an employer's health plan. A 40-year-old woman will pay as much as 37 percent more.
"Women are being charged more, simply because they're women," said Judy Waxman, who worked on the study.
Can there be any base or reason why this change in insurance rates is observed with women as compared to men? aaannnnnnnyyyyy expert comment :roll: :roll:
Posted: Thu Mar 19, 2009 06:03 am Post Subject:
Insurers use what are called "morbidity tables" when establising rates for medical expense coverage. They deal with the average length and cost of disabilities and medical treatments. For comparison, life insurers use "mortality tables" to predict the average number of deaths every year per 1,000 male and female lives at a given age. It's all in the statistics.
In life insurance, the stats overwhelmingly show that, on average, men die earlier than women. You all know that. That's why men, all things being equal, pay more than women for life insurance.
In health insurance, morbidity tables show, on average, that women have more, and more varied health concerns when compared to men. So, that's why women typically pay more for medical coverage.
Notice I said that the statistics represent averages, and should not be interpreted to imply this would apply in all cases or at all ages. There are tons of other things that come into play when considering premium rate structures, and every carrier is different. So...that's it. It's in the stats. Game over.
InsTeacher 8)
Posted: Sat Mar 21, 2009 03:58 pm Post Subject:
In life insurance, the stats overwhelmingly show that, on average, men die earlier than women. You all know that. That's why men, all things being equal, pay more than women for life insurance.
In health insurance, morbidity tables show, on average, that women have more, and more varied health concerns when compared to men. So, that's why women typically pay more for medical coverage.
i suppose this could be a generalised conclusion of the discussion
.Men are charged less in health insurance while women are charged less in life insurance
again i need to remind that this is just a generalised aspect of the discussion there are so many other considerations for any specific case
Posted: Sat Mar 28, 2009 02:49 am Post Subject:
When thinking about healthcare premiums and the idea that men pay less than women, most people only consider pregnancy and it's related complications, but there are many other things to consider.
Remember that women generally outlive men by 3-4 years on average. That means 3-4 more years of healthcare needs. While it could be argued that most of that is paid by other insurance coverage such as long-term care, Medicare and it's associated supplements and MA plans, Medicaid- it all comes out in the wash. It's a domino effect, and it all starts at the hospital and doctor's offices. The cost of medical treatment is spread throughout the spectrum of payors, and you cannot just think that just because Medicare is paying for certain costs that it doesn't affect your personal healthcare premiums. It does, and it does so absolutely.
Secondly, statistics show that when men contract (again, on average) serious disease, they tend to "expire" much more quickly than women with comparable disease or disability. While it's true that men contract diseases that are different than women, women have their own set of issues that you're well aware of- breast cancer, menopausal issues, higher incidents of mental-health issues to name a few. These issues tend to "linger" longer than men's problems as well, and that in turn creates a higher healthcare cost.
These are just a couple of responses to your question, which was a good one!
InsTeacher 8)
Posted: Sat Mar 28, 2009 09:53 am Post Subject:
There is myth that women are more likely to visit doctors for health checkups and prone to illness. I think insurance companies have not been dealing this issue earnestly.
Health care is human right and should not be gender specific. Consider the age group of 25-35, where health care claims are more in case of women. Probably the solution to resolve it by increasing and balancing the premium of men of age 25-35 if couple is married.
Posted: Sat Mar 28, 2009 12:50 pm Post Subject:
I'm sorry I total understand why women's heath care is high..we cost more. it is just THAT simple.....why do young men and women from 16-25 paying higher auto ins...because they cost more..why do young men cost even more than young women in that age bracket? because they cost more..(although that is changing) it's just THAT simple..why on earth would the ones that cost more not expect to pay more? I'm in that very group...and I'm here to 'testify' that I and my daughter sure has heck have costed our health carrier about a thousand times more than my husband or son (when the kids were home and on our policy)...more over both of my grandmothers, and mothers (counting my step mom too) have cost their carriers WAY more than the men on their policys...it's just math...nothing to get worked up about...it levels out and off as we age..(high for everyone)...
I'm sorry, once again, I just don't understand why anyone would think that those that cost more wouldn't owe more??? :?
Posted: Sat Mar 28, 2009 01:46 pm Post Subject:
I just don't understand why anyone would think that those that cost more wouldn't owe more???
i fully agree on this aspect rather whole insurance industry decides their insurance premium on this single aspect of 'one who cost more owes more' so it is really an universal truth.there should not be dispute in any person's mind about this. :wink:
Posted: Tue Mar 31, 2009 05:34 am Post Subject:
Lori said ( :D )
I'm in that very group...and I'm here to 'testify' that I and my daughter sure has heck have costed our health carrier about a thousand times more than my husband or son (when the kids were home and on our policy)...more over both of my grandmothers, and mothers (counting my step mom too) have cost their carriers WAY more than the men on their policys...it's just math
OK...I have a wife, two daughters and a son. Lori, I feel your pain. The females in my family would have bankrupted me if it weren't for my (thank god) good healthcare coverage. My son and me? Not even close. N O T E V E N C L O S E ! ! ! I swear, it's always something. My son and I just look at eachother all of the time and shake our heads. It's never anything serious, it's just ongoing stuff!
It's in the numbers, and no matter how you want to argue it, it is what it is. You can cry "foul" and declare discrimination 'til the cows come home and it's not going to matter. Insurers have historically and will always use the numbers to decide just about everything. Usually it works out. Sometimes it doesn't. (Just ask AIG and their credit debt swaps...ahhh, the derivatives market, thank you! :twisted: ) Sorry, the numbers things brought that into my mind.
InsTeacher 8)
Posted: Tue Mar 31, 2009 11:32 am Post Subject:
But, a woman is also at greater mortality risk during her child bearing phase, then why isn't she charged extra on her life policy in this period?
I think it's not the same with the advanced nations. Had there been so many pregnancy related deaths it would have affected the insurance rates uniformly. Again, pregnancy is a natural condition and the body of a woman is pretty much equipped to deal with this stress. It can't be compared with external damages like smoking or chewing which would affect and weaken your body parts thus leading to other health problems in the future.
Posted: Tue Mar 31, 2009 06:32 pm Post Subject:
It's in the numbers, and no matter how you want to argue it, it is what it is.
INS one thing i will add to it, numbers is not only referred by only insurance companies rather in any business success or failure of the system is measured in terms of numbers only.
so numbers are important when it comes to running a successful business.
but the other side of the story is all the NGO's all social welfare institutes will measure their success in terms of the improvement in the individuals life not only with figures.
so here also numbers are important but not at the cost of the individuals lives (standard of living).they will measure their success in terms of happiness.
pursuit of happyness
Posted: Thu Apr 02, 2009 04:36 am Post Subject: the reason
women are charged more in the early years of their life. they are more prone to health problems and yes pregnancy has something to do with it because even if you dont have maternity ins companies pay for complications due to the fact along with other common reproductive problems women face. cist, kidney infections etc. at about age fifty mens premiums start to actually get higher because women tend to be better about annual check ups than men. there for savings the ins company utilizes in women s intelligence on annual checkups is passed along in premium savings. most men don t go to the doctor for checkups we have to be broke or dying before we go
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