And believe you are all done shopping. Medical insurance rates go up all the time and you can't lock in a rate for major medical protection like you can with whole life protection or a long term lease. Making sure that you have the lowest price for quality medical insurance can only be done if you review your coverage every year or so.
Your healthcare insurer constantly calculates the average costs of medical claims that policyholders make against their health care protection coverage. They are constantly changing the rates. The rates will almost always go up, but each policy series may have different rate increases. You want to make sure that you are in the getting the best deal, not only currently, but any given point in the future as well.
If you have an older medical insurance policy, particularly one that isn't being sold this year, it is important that you compare other plans. Chances are there are better-priced health insurance coverage available that have similar benefits.
When a major medical insurer stops offering a particular policy series to new members, the rates on that policy series will almost always go up faster than they will on any open plans. The reason for this is not because the age of the policy holders, but the age of their exams or underwriting. When you look at 100 policyholders of any given age who have just passed their medical underwriting, they are much less likely to have major claims than the same number policyholders of the same age whose health status was last reviewed five years ago. They have had five years to raise their blood pressure, weight and cholesterol. Many are in excellent healthcare, to be sure, but when you look at the averages the newly underwritten group will almost certainly be healthier.
This means that your medical insurance rates will be lower if you are moved into the group of the families they insure who have been underwritten more recently. Make sure that you maintain or improve your good health care and that you regularly shop for health care protection. Shop for a wife or a husband once, shop for coverage on a regular basis.
In order to be approved for any new health coverage plan your medical must be good. This doesn't mean that you will be denied if you have had the flu, but you might be denied if your weight doesn't meet their criteria or you have uncontrolled hypertension.
Perhaps one day we will have a system where everyone can qualify for health care insurance regardless of their major medical status. That day is not now. Today, we need to do what we can to control the aspects of our health care that are within our control if we want to get the best rates.
Of course, a not insignificant side effect of being healthier is that we get to live longer and probably more fulfilling lives. If the additional cost of a rated health care coverage plan is the final straw that gets you to stop smoking or exercise more, your life will be better for it.
Right now we have a for profit medical coverage system where both the insurance companies and the consumers cherry pick. The insurance companies want to deny anyone who is a bad risk; consumers often avoid getting major medical coverage when they are younger and healthier.
We may have a better medical insurance system eventually or we may just have a system that is different that has different problems. In any event, the system we have now favors those who shop around and only those who are in good healthcare can review their coverage on a regular basis so don't buy medical protection and and feel that that you can stop shopping and comparing insurance options and prices.
Alston J. Balkcom has been a licensed insurance professional since before his youngest could walk. Now a grandfather, he is a veteran insurance broker. You can find cheap health insurance for students information on his sites. He can also help you find Nebraska house owners insurance quotes.
by alston balkcon
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