What is Your Good Health Worth?

Medical costs are skyrocketing these days and unless you have an adequate health insurance plan, you could find yourself facing medical bills that could quickly overwhelm you. Although it might be tempting to just avoid the issue of paying for health insurance altogether, the fact is that without health insurance it is nearly impossible to keep yourself in good health. Every state has its own roster of health care providers and if you look up health insurance rates by ZIP code you will probably find that there is a great deal of variation. Your best bet when you are looking for a good health insurance provider is to compare insurance rates within your state to figure out what your premiums should look like.

There are a number of factors that affect the types of health insurance premiums you are eligible for, including your

State of Residence

Where you live has a great deal of influence over the cost of your health care coverage. Every state has its own laws concerning the minimum standard of coverage your health insurer needs to provide you with. All insurance carriers must abide by their state’s established guidelines in this respect. These guidelines can vary significantly from state to state, and that variation is reflected in the disparity you see in health insurance rates by ZIP code. Keep in mind, however, that every state mandates coverage for basic doctor’s visits and child healthcare, as well as maternity and women’s health care.

 

Age

It is no surprise that it is harder for older people to get low premium health insurance policies. When you compare insurance rates within your state for your age group versus another, you will probably find that it is cheaper to be well-insured when you are younger and healthier. After all, it is much less likely that a young, fit person will make a hefty claim on their health insurance. However, an older person will typically make more claims on their health insurance plan within the course of a year.

 

Pre-Existing Health Conditions

Many health insurance providers will require you to answer a number of medical and lifestyle related questions when you apply for coverage. These questions can run the gamut from how much you drink and smoke to whether or not you have any pre-existing medical conditions. For instance, if you have chronic renal disease, you will most likely be charged higher premiums. The same is true for smokers and heavy drinkers who have a higher risk for developing serious health issues down the line.

 

Supplemental Coverage Options

If you have a pre-existing medical condition or if you are not comfortable with the base level of coverage you are offered, you always have the option of purchasing supplemental health insurance. However, the costs of supplemental coverage can vary greatly based on the category of coverage you require, and can only be determined by your carrier.

Health insurance is one of those things that you should never be without. True, it can be expensive, but if you take the time to compare insurance rates in your area, you will be able to determine if you are paying too much for your policy. And that kind of knowledge is priceless when it comes time to negotiate your health insurance rates.