Muskogee: 800.259.4677 | OKC: 800.699.5905 | After HRS: 866-292-0953

 

Business Insurance BUSINESS

Discover the perfect insurance options to meet your unique needs.

Read More
Workers Compensation Insurance WORKERS COMP

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Auto Insurance AUTO

Insurance that protects you against financial loss with accidents.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More
Health Insurance HEALTH

Learn about different health coverage options that fit your needs.

Read More

Almost no one in Oklahoma gets health insurance or medical care for free. When you buy a plan, you often have to pay for your coverage. Most insurance companies charge their policyholders premiums.image of hospital for health insurance from the beckman company

Premiums are essentially the bill you pay your insurer for covering you. They vary from carrier to carrier. They can even vary from person to person.

How Insurers Determine Premiums

Your risk level affects how much financial burden an insurer assumes by covering you. If you have a higher risk, the burden on the company is usually greater. Most insurance companies charge higher premiums for those with higher risks.

Insurers often use a variety of criteria to help them determine your risk level. These might include:

  • Body Mass Index (BMI): Elevated BMIs usually indicate that someone is overweight. People who carry extra weight usually expose themselves to higher risks for other conditions like heart disease, diabetes and high blood pressure.
  •  Tobacco Use: If someone uses Tobacco, they risk considerable health damage.
  •  Age and Gender: People of different ages and genders have different health risks and needs. For example, older people, generally, have more health needs than a young person. Additionally, men and women face different risks that may require special coverage.
  •  Medical History: If your medical history contains many issues, insurers usually charge more for coverage. This is because your likelihood to need coverage for care is likely high.
  •  Family History: Some people have a predisposition to certain illnesses because of their background. For example, some families may have a history of heart disease or stroke. They may have to pay more for their health insurance.
  •  Location: Where you live can affect how much you pay for coverage. Each state manages its insurance market regulations differently, and that can affect prices. Other cultural or lifestyle factors may also impact an area’s tendency to face health risks.

Not every insurer will use all of these statistics to determine your premium prices.

Indeed, the law forbids insurers to use some of these factors when issuing certain plans. If you buy an Affordable Care Act plan, the law restricts the factors an insurer can use to set rates. They might be able to use your age, location, tobacco use, enrollment status, and plan category to determine your rates. However, they cannot use factors like pre-existing conditions or gender.

When searching for health insurance, your independent agent can help you determine your needs. They can then compare policy options to get affordable coverage that meets your specifications.

We’ve got you covered. Call The Beckman Company in either Muskogee : 800.259.4677 or OKC: 800.699.5905 for an instant, convenient health insurance quote
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
Twitter
LinkedIn
Google+
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
 
© Copyright. All rights reserved.
Powered by Insurance Website Builder