Major Medical Health Insurance Rates

Medical insurance premiums change every year. And unfortunately, rates tend to increase most years. This is due to higher costs associated with medical treatment, such as doctor’s charges, facility fees and room charges of hospitals and other health care providers. New technological advances in medicine save lives and improve quality of living. But they also can be costly.

The top portion of every page on this website provides you with the opportunity to quickly compare the policies that are likely to be able to help you cut your costs. Entering your zip code and other information will be required. But don’t worry. We don’t want or need personal financial information such as your social security number.

Recent changes to national health care here in the US have improved the quality of individual and group plans. But at what cost? Now that there is no cap on lifetime payable benefits and mandated preventive coverage is required, both private and employer-sponsored policy premiums have risen. Additional changes resulting from future government regulations could further strain medical rates.

What Can You Do About Your Costs?

Consumers can often effectively reduce their medical insurance premiums. Naturally, the most common method is to reduce coverages. Typically, we don’t recommend changing your benefits unless you fully understand the impact of the proposed changes and the “worst case scenario” that can result.

For example, if you alter your private health care plan by substantially bringing your catastrophic deductible up to $10,000, your potential costs (with coinsurance) could be as much as $15,000. If you were to have two major claims in successive years, are you prepared to pay $30,000 out of your own pocket? While the $3,000 (or more) savings per year would have been nice, in retrospect, changing your policy could create some major financial hardship.

Shopping and comparing to find new medical coverage can be time-consuming so it’s best to let the experts do all of the legwork for you. And yes…that’s where we can help! Whether you have pre-existing conditions, or you’re in perfect health, we’ll be able to evaluate dozens (often hundreds) of available plans in your area, and advise you if it’s feasible to reduce your premiums in a way that won’t jeopardize your long-term health care. And we’ll also try to point out situations where your payments are tax-deductible.

How Are Medical Insurance Premiums Calculated?

Actually, there are a number of factors. Of course, your overall health plays a huge role in this calculation. If you don’t have any existing conditions, don’t smoke, don’t take any medications and you have a normal BMI (Body Mass Index), you’ll probably enjoy a low rate. Conversely, If you have been treated for cancer, diabetes or heart disease, there’s a good chance you’re not going to be happy with the rate you are being charged.

As expected, your smoking status, age and state of residence will also influence your rate. If you’re a young healthy male in Ohio, you will be paying a ridiculously low rate. If you move to New Jersey, for example, you will see a significant increase in your premium. Also, typically, males pay less than females until about age 50.

We’ll continue to monitor rates of health care providers and publish the latest information that may help you stabilize and possibly lower what you pay for your own coverage.