There are many factors that affect the cost of health Insurance premiums. Very often when you look for insurance companies to insure for health insurance different insurance companies assign different values to components in the risk profile. What compiles your risk profile is your information in the application and medical history. Insurance companies use extensive product research to compile various factors for risk profile.
Different factors that affect the Premiums
People with high body mass index have to pay higher premiums than those with normal body mass as these people with higher body mass index tend to suffer from diabetes, heart, joint problems and sleep apnea. People with high body mass tend to have problems during pregnancy and require specialized treatment. People who smoke, use snuff or chew tobacco are charged a higher premium than others. Even if you have given up the use of tobacco the companies still charge you extra as it takes a long time to get over tobacco.
Women usually pay a higher premium than men for three reasons; women may be more prone to go to doctor and take prescription and be more accessible to chronic ailments. Companies offering maternity insurance of about $13,000 charge a higher premium. Premiums are usually low for young people and increase as age increases.
How Insurance Companies affect Premiums
Any individual having pre existing medical condition has to pay higher premium as insurance companies feel the policy holder will have more problems due to this pre-existing problem. People having family history of certain medical ailments have to pay a higher premium. Individuals with a family history of cancer will have to pay a higher premium than people who have no history of cancer.
People working with hazardous chemical and radiations or in laboratories have to pay a higher premium than those involved in less dangerous jobs. People having jobs which are more prone to injury have a higher premium as a result of the risk involved. International business travel may also have marked effect on insurance premium. People having sedentary jobs where they have to sit for hours are also charge extra premium because of increased risk of cardiovascular diseases.