This is a loaded question! The answer depends on so many different factors. Below we have broken down into categories the types of health insurance you might be looking for and some of the factors that affect the premium. Some may seem obvious and others will definitely surprise you.
Individual Health Insurance
There are two large factors when getting prices for individual health insurance. First is your age. Young people, between the ages of 19 and 35, often get very competitive prices for health insurance coverage. However after the age of 50 the prices begins to climb quickly. That is not to say you can’t still get a good deal over that age but you are going to have to look a little harder and be willing to accept higher out of pocket responsibilities. The second factor is your income. Since the implementation of the Affordable Care Act, aka Obamacare, your household income can play a significant factor in the costs of your health insurance. Generally speaking the less income you make the more Government assistance you will receive to help pay your premium. Click here to see an income chart showing how much you can make and still qualify for help . You could also click the “Individual Health Insurance Quotes” link below to get an instant personalized rate with subsidies!
Group Health Insurance
Average age and the companies physical location are the two biggest variables that determine your rates. Some other more minor factors are; the Zip Code Spread (your employees combined and factored zip codes. Usually determine how close they are to hospitals that the carrier has favorable or unfavorable contracts with) and Medicare primary status (if Medicare or the group health plan is the primary payor for employees over the age of 65.) That is about all. One factor that many employers feel is important but is typically not is the smoking or tobacco status of their employees. Most carriers do not ask if the employee smokes on their health statement. Click the Group Health Insurance Quote button below to get your free and fast personalized quote.
One of the more structured insurance coverages, the Medicare supplement policy prices are affected by very few variables. For some guaranteed issue policies the only cost factor is age. For other policies a review of medical history (often very limited in scope) can also cause price fluctuations. To learn more about Medicare Supplement policies click here . Or if you would like a quote click the Medicare Supplement Quote button below.