When considering health insurance costs there are many factors which determine your monthly premiums. The rates depend on such factors as the level of cover you have opted for, your age and whether or not you are a smoker. It is very difficult to estimate the cost of health insurance given all the factors that need to be taken into consideration.
If you are looking for a personal health insurance quote comparing the leading insurers to get an idea of costs then complete your details on our health insurance quotes page and we will gladly provide this. When looking for health insurance it is important to be aware of the factors affecting your quotes, the most common are detailed below.
Level of Cover
Many insurance companies offer health insurance policies that cater for different price budgets, from a basic plan offering little more than in patient cover to a comprehensive plan covering all in-patient and out-patient treatments with many additional benefits. The greater the level of cover you require the higher your health insurance costs.
Age
There is no denying it but unfortunately the older we become the more likely we are going to become ill and require treatment. Health insurance costs increase with age due to the additional risk of a claim occurring.
Smoker
Due to the health risks associated with smoking and the increased likelihood of a smoker requiring treatment health insurance costs are inflated. Most health insurers deem a smoker as anyone who has smoked tobacco products in the past 12 months.
Lifestyle
More and more health insurance policies are looking at ways to proactively improve individuals health in an attempt to reduce claims. When buying a health insurance policy you may well be asked a number of lifestyle questions, such as how often you exercise and the number of units of alcohol you drink.
The healthier your lifestyle the greater the discount you receive on your health insurance costs. The Pruhealth vitality programme is a great example of this, you build up points for healthy eating and exercise which come the end of the year help towards reduced premiums and other perks.
Paying premiums annually
Health insurance premiums are often cheaper if you pay them annually, often the monthly premiums are the annual premium multiplied by an interest rate set by the insurer, it can also often be cheaper to pay using a debit rather than credit card.
No claims discount
This is a reward in some ways for not making any claims. Just as with car insurance, if you don’t make any claims then many health insurance providers will offer a discount on your premium, and this can increase over time as long as no claims are made.
All of these factors should be considered when looking for an affordable health insurance plan as well as the many options available to tailor your policy (see Health Insurance Options)
Next Steps
Whether you are looking for more information, some guidance or health insurance quotes comparing the leading insurers, let us know we are here to help.
