There are several ways to find the best and most affordable health insurance rates. It’s important to set aside time and patience with this process because it can be frustrating and time consuming. By keeping yourself organized you can research the different types of policies and rates that are available to you.
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According to an article by Today Money almost half of all bankruptcies in the United States are caused by either medical bills or illnesses in general. This leaves many of us to wonder if the quality of our health insurance stacks up to what an individual consumer needs.
Health Insurance Rates
How is a health insurance rate calculated? The old saying, “you get what you pay for” applies in most cases, especially when it comes to health insurance rates. Rates will vary depending on what coverage you receive, but there are other factors that determine your health insurance rate quote as well.
Health insurance companies base your health insurance rates on your age, weight versus height, geographic location, and health history.
Some even require the health history of your close family members, such as mother, father and siblings. They do this in order to calculate your riskiness of insuring.
The younger you are the better your rates may end up being. Not that health insurance companies try to be discriminating, but as we age we tend to have more health concerns and spend more money on health care. The more an individual spends on health care, the more the health insurance company will have to spend as well.
Your weight versus your height is sometimes calculated in to your health insurance rate. Science has shown those who are obese have more health problems than those who are at a healthy weight. Those who are underweight tend to have more health problems as well.
Your geographic location will affect your rates. There are some states that charge higher premiums for health insurance than other states. Health insurance rates can even vary from county to county in any given state.
Your health care history is a big factor in affecting your health insurance rates. Those who have any preexisting health issues will either not be able to find health insurance or will pay a very high premium for health insurance. Your rates depend on what the condition was and how long it has either been in remission or how long it’s been since you’ve had the condition.
Searching For Affordable Rates
How should I search for affordable rates? When you’re trying to find the best rates available make sure you know what type of coverage you’ll need beforehand.
You don’t want to start your search without a list of requirements. This can make the search process that much longer.
If you’re the type who likes a little help it’s never a bad idea to use an insurance broker. They can do most of the legwork for you and help you shop for the best rates. You’ll be less likely to get scammed by using a health insurance broker since they can point you in the right direction.
Make sure the health insurance broker you use is reputable! To find a reliable and reputable broker and to check credentials you can look them up on The National Association of Insurance Underwriters.
If you don’t mind researching on your own the internet has a wealth of information on health insurance. Many times you’ll find better rates right from the company’s websites and won’t have the broker’s fees on top of the insurance premiums.
Finding the Best Health Insurance Company
What health insurance company is the best? While there’s no one company or rate that’s perfect for everyone there are definitely some that are better than others. You can do a search online for the top rated health insurance companies. There are many things to consider when signing with a company.
Look for those health insurance companies that have a trial period. It’s always a good idea to test drive your plan before fully committing. While not all companies allow this, those that do are usually confident of the quality of their plans.
Managed health plans tend to be more reasonable than other plans. These plans focus on getting discounted health care rates from providers and hospitals. The catch is you have to work from a very specific network of providers.
Ready to start comparing and contrasting health insurance rate and plans online? Just enter your ZIP code in the FREE search tool now!