Our pre-existing medical conditions affect the cost and availability of health insurance especially in the private market.
Usually obese workers are not charged more for health insurance on their group plan, however, when they leave their jobs and seek to purchase private medical insurance, they are often charged more and sometimes they are denied coverage. Perhaps one day this will change, but this is the way that individual healthcare insurance works today in most areas of the United States.
What is considered Obese?
A BMI or Body Mass Index at or above 35 is considered obese by many private health insurance companies. You will need to check an individual insurance company’s tables for height weight to see how a particular company looks at this issue. Some companies are more liberal than others.
In some cases an extra pound or two can have a significant impact on your rate. You can check your BMI online before entering into a conversation with an agent about health insurance. If your BMI is close to or above 35, you may want to ask him or her at what point you will be considered over weight. If you are close to that number dieting for a week may mean that you pay a lower premium for the next several years.
Even if you are thin, you may want to ask if your weight will impact your coverage. Some companies have preferred ratings classes for this with BMIs that are lower than average.
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Your location can have an impact on the cost of your insurance.
The prices and availability of insurance are impacted by your address. When looking for a new home, the price of insurance should be considered. Your zip code has an impact on the following types of insurance:
- Homeowners Insurance
- Renters Insurance
- Auto Insurance
- Health Insurance
Your location impacts your homeowners and renters insurance based on several factors including the crime rate. Your price for auto insurance will tend to be higher in more densly populated areas because there tend to me more accidents when there are more people and cars to run into. Health insurance rates are partly driven by the cost of health care in your area. If the doctors in your area charge more, your health insurance company may do the same.
If you are considering moving and your choices include different zip codes or town, check the cost of insurance in the different locations before making a final decision.
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It is important to make the right decision regarding maternity insurance. Having this coverage adds a lot to the cost a typical health insurance policy. Not having it when you need it can also cost you a bundle.
Pregnancy is expensive. The cost of having a baby is well over $10,000 today and over $20,000 in some parts of the country. Affordable insurance with maternity can be hard to find and it is important to have this coverage before you conceive. Your options will be limited if you are pregnant with no insurance.
Not all policies cover maternity, so don’t take this coverage for granted. Also, the coverage will generally only extend to the primary insured or the spouse of the primary insured. Don’t assume that if you have maternity insurance on your policy that your daughter does as well.
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Don’t throw away your free healthcare benefits!
Many medical insurance policies will come with free or nearly free benefits.
They may include:
- Free annual exam
- Free pap smear
- Free mammogram
- Various screening tests
Call your broker or your insurance company’s customer service department to find out what services you are paying for with your premiums. Taking advantage of a free exam could save your life.
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High Deductible Health Plans and Health Savings Accounts are often the best option for our clients. The insurance benefits may not be as robust as a low deductible, low co-pay plan. However, these group and private medical insurance plans often offer:
- Tremendous Premium Savings
- Tax Benefits
- Excellent Preventative Care
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