Hi
I am not very familiar how the health insurance companies work but wanted to understand about the premiums being charged from a user and was wondering if there could be a variable component to it
Is let us say there are 2 users who are of same age group but have different life style .
User A has very un healthy life style , does not exercise and has high blood pressure.
User B goes to gym regularly, maintains weight and normal blood pressure.
Can insurance company charge two different premiums from these individuals if this data is made available to them at regular basis ?
I am not talking about insurance giving you rebate if you join a gym. You join a gym but who can check if you exercise or not.
Business Forum
Floating new idea - Insurance premium based on your health records
New Topic
Post Reply
Follow Topic
Page of 1
- Message
All insurance companies are different but most do something like what you mention. They have teams of people who study and figure out their risk for each type of individual. So they already know the likelyhood of your dealth or hospitalization for someone in their 20s, 30s, 40s, etc.
-------------------------
-------------------------
This is an issue in group health plans at work. Insurance companies know from experience that older workers draw against a company health plan account more than younger employees. So, many employers are changing their pans to reflect this fact. Employees are assigned a set amount (life time cap). Younger employees may never have to worry about exceeding the cap. But older employees can exceed the life time cap if it`s set to low. If an employee exceeds the amount, they start paying for the medical 100 percent. Groups representing older employees claim this is unfair because older employees as a group have more health problems. But, insurers say it is fair because everyone receives the same amount in their individual insurance funds to manage. How they manage the fund is up to the individual.
-------------------------
The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.
-------------------------
The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.
The federal government is actively working to shut down the private insurance industry, particularly in health insurance. "Health Care Reform" is designed to eliminate entirely the concept of private insurance companies, and remove all "premiums." All citizens will pay for everyone`s health care via some kind of tax or fee system, and all citizens will then have unlimited health care.
At least it`ll be unlimited in the very beginning. Later, as the cost becomes impossible, so-called "bioethics" committees will begin to remove the more expensive, wasteful, or un-merited procedures, doling out health care on the basis of who "deserves" that health care.
So it really doesn`t matter anymore whether or not someone is living a healthy or unhealthy lifestyle. What matters is that the majority "crowd" has the option, soon-to-be the "right" to tell everyone else how to live, what they can do, what choices they have, and everything else.
It`s all well and good to call something healthy or unhealthy, but the much more serious question is *who* defines those terms.
At least it`ll be unlimited in the very beginning. Later, as the cost becomes impossible, so-called "bioethics" committees will begin to remove the more expensive, wasteful, or un-merited procedures, doling out health care on the basis of who "deserves" that health care.
So it really doesn`t matter anymore whether or not someone is living a healthy or unhealthy lifestyle. What matters is that the majority "crowd" has the option, soon-to-be the "right" to tell everyone else how to live, what they can do, what choices they have, and everything else.
It`s all well and good to call something healthy or unhealthy, but the much more serious question is *who* defines those terms.
Any system that takes away personal incentive or responsibility is doomed to fail long term. We have a health care crisis because as a whole we are not making healthy lifestyle choices and not assuming personal responsibility for our health.
The free marketplace works. As more people take responsibility for their health, less demand is put on insurance so premiums can be reduced and still care for those who do need health care.
Personal incentives are needed to encourage people to make healthier choices. What can our society do to empower people to take action to prevent disease?
-------------------------
http://www.christian-business-opportunities.org
I think insurance company provide different type of policies and Service, and it is our work to find the best thing among them.
-------------------------
Our main business scope include a variety product range of jewelry wholesale,pendants,bead jewelry,rhinestone jewelry,pearl jewelry,Cubic zirconia jewelrycostume jewelry
One of the primary reasons that a life insurance company will request medical records is to verify information that is contained on an application. Life insurers are not going to issue certain types of life insurance products, such as a whole life or term life policy without verifying the health information that was provided by an applicant. This can include verifying whether or not an applicant currently smokes cigarettes.
Vinays,
You talk about lower rates for those who go to the gym. Businesses can take advantage of something similar. If your company promotes walking or other exercise programs at work, the business' health insurance will often give the company a discount.
-------------------------
I help entrepreneurs to start and run the small businesses they always dreamed of owning so they can fire their bosses and gain the freedom they deserve.
Page of 1
Post ReplyAdvertisement
Keep the Community Clean!
- StartupNation forums should be used as a platform to learn, educate others, share stories, tips & tricks and to provide constructive feedback.
- Please do not use the Forums for advertising & blatant self-promotion.
- Please be respectful to other members and refrain from personal attacks and vulgar language.
- StartupNation reserves the right to delete any message, reply, and/or member who violates our terms of use.
Advertisement
Advertisement
Advertisement
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
DC
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennesee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
DC
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennesee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Advertisement
Contact Us
Privacy
Terms of Use
Become a Marketplace Provider
Advertise
Local Guides
Site Map
Home Business
Start a Business
Copyright © 2013 StartupNation.