And and believe that you are all done shopping around forever. medical care carrier s rates go up every year and you can t lock in a rate for medical insurance like you can with whole life coverage or a long term lease. Making sure that you have the lowest price for quality major medical insurance can only be done if you review your coverage every year or so.
Your major medical insurance provider constantly calculates the average costs of medical claims that their clients make against their healthcare coverage cover. 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 now, but in the future as well.
If you have an older insurance policy, particularly one that isn t being sold today, it is important that you look at other coverage. You ll more than likely find cheaper medical care insurance coverage available that will pay your doctor and hospital just as well.
When a medical insurance provider 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 medical 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 major medical, to be sure, but when you look at the averages the newly underwritten group will almost certainly be healthier.
This means that your health 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 and that you regularly shop for healthcare coverage. Shop for a wife or a husband once, shop for insurance on a regular basis.
In order to be approved for any new health care coverage policy your health care 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 heart disease.
Perhaps one day we will have a system where everyone can qualify for health coverage regardless of their medical status. That day is not this year. If you are looking for coverage now, we need to do what we can to control the aspects of our major medical that are within our control if we want to get the best rates.
Of course, a not insignificant side effect of being healtheir is that we get to live longer and probably more fulfilling lives. If the additional cost of a rated healthcare insurance policy 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 coverage companies and the consumers cherry pick. The insurance companies want to deny anyone who is a bad risk; consumers often avoid getting healthcare protection when they are younger and healtheir.
We may have a better healthcare system soon or we may just have a different system that serves us less well. What ever happens in the future, the system we have now works best for those who price and benefit shop and only those who are in good health care can shop around so don t buy medical coverage and and think that that you are finished shopping and comparing prices and benefits.
Author Resource:
Alston J. Balkcom has been an insurance professional since before his youngest could walk. Now a grandfather, he is a veteran insurance broker.
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