Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Yes, what people pay for their health insurance increases as they get older. The reason for this is that as you get older, the average person typically needs/uses more health care resources.
For example, when you're young and healthy, most people only go see the doctor when they have an injury. When you're in your 50's and 60's, the body changes and needs more maintenance and observation. Older persons generally go to the doctor on a routine basis every year.
Carriers also change their rates periodically because they have to have the funds available to pay claims. If they have an increase in claims one year, they will likely have a premium increase on their policies the next.
I always recommend people consult with an experienced broker - we have an in-depth knowledge of a wide range of products available in the marketplace and can help you find the health plan that's going to be most suitable to your needs and your budget. Please let me know if I can be of assistance. Thanks very much.
Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
Will your health insurance premiums go up? I have been a health insurance broker for 33 years and I'll give you a short but accurate answer.
Your rates will probably go up each year, although there are many variables that impact the cost. Your income, the type of plan you have, the claims history of the specific carrier, and whether you kept the same plan are just a few of the most relevant factors.
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For example, when you're young and healthy, most people only go see the doctor when they have an injury. When you're in your 50's and 60's, the body changes and needs more maintenance and observation. Older persons generally go to the doctor on a routine basis every year.
Carriers also change their rates periodically because they have to have the funds available to pay claims. If they have an increase in claims one year, they will likely have a premium increase on their policies the next.
I always recommend people consult with an experienced broker - we have an in-depth knowledge of a wide range of products available in the marketplace and can help you find the health plan that's going to be most suitable to your needs and your budget. Please let me know if I can be of assistance. Thanks very much.
Your rates will probably go up each year, although there are many variables that impact the cost. Your income, the type of plan you have, the claims history of the specific carrier, and whether you kept the same plan are just a few of the most relevant factors.