Health insurance premiums can make up for a hefty chunk of your monthly bills, and for some people, that chunk is bigger than others. Why is that though? Aren’t most medical costs relatively the same? Shouldn’t we all pay the same amount of money in premiums then? While having universal insurance costs would be great in an ideal world, the fact is that there are too many variables that go into health insurance claims for that universal payment to ever be reached. Read below to find out more information about why there are such great differences in health insurance costs across the board.

To determine a person’s health insurance premiums, a health insurance provider must do a risk assessment. This is something that has to happen for just about any insurance you get, from life insurance to auto insurance. Basically the insurance provider has to look over your past medical history and present medical conditions to determine how much of a risk you would be at filing a claim. The more risk you present, the more money you will have to pay. That is why there are so many different costs out there.

There are other factors that may go into how much you pay as well. In some cases your credit score may influence your health insurance premiums because that determines how likely you are to pay your health insurance every month. Your family history may play a role in what you pay because that will put more risk on you developing a condition later on in your life. High cholesterol, high blood pressure, and any other concerning health factors may also be taken into consideration. A health insurance provider is going to make sure they cover their costs in the event that you may file a claim.

Bundling your services can save you a lot of money on health insurance premiums. If you have a family, consider a individual family plan, you can put everyone’s insurance costs into one plan and that may save you money on each policy individually. If you have other kinds of insurance needs, you may also think about packaging those together because you may get a multi-line discount. You can ask your insurance agent about other ways to save money, and you should be able to get an affordable rate in the end. A little bit of research could of a long way. Do not pay more than you have to in monthly premiums.

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