Factors that Affect Your Medical Insurance Price
The amount you pay yearly for your insurance cover, is usually determined by age. The annual charge for elderly is usually higher because they are in and out of hospital due to sicknesses. On the other hand, young people are not easily caught up in illnesses and this is why their annual charge is lower.
- Tobacco Use
If you are involved in smoking a cigarette, chewing tobacco, or taking other substances that causes harm to your body, then you might be charged a higher amount compared to non smokers.
According to the insurance companies, tobacco users are prone to various diseases, including lung cancer, kidney stones, and throat cancer among others. Of course, these diseases are very costly to manage and an insurance company will request for higher premiums to have you covered.
- Your Body Mass Index
The BMI is defined as the body mass divided by the square of the body height, and is universally expressed in units of kg/m².
Insurance companies usually associate high BMI with various health conditions like diabetes, stroke, heart diseases, kidney issues, joint pains, back pains, obesity.
Besides, when it comes to normal conditions like delivering if it is a woman, they may develop complications that will make hospitalized for long thus ending up paying more money than their fellows who had a normal BMI.
If you are involved in taking illegal drugs like opium, heroine and other drugs that have major consequences, then you will not be given an insurance cover. These illegal drugs can cause severe effects like madness, hallucinations, violence, and other side effects. Insurance companies will usually test your urine or blood to ascertain that you are not using any of these illegal drugs. If you want to secure an insurance cover, avoid taking illegal drugs.
Steps to Undergo Through Before Getting a Medical Insurance
Filling a questionnaire
If you are under 50 years, then you will be required to fill a questionnaire about your medical history. You will be required to be honest in answering the questions. In case you are using any drug or medicine, you are supposed to declare it in the form. The insurance company will give you a window of two years to verify whether the information you declared is true. In case, it is false, you will lose your insurance cover.
This is usually done for those who are above 50 years to determine whether they have the diseases they are suffering from. The insurance company conducts the medical exam freely or it may send you to the doctor. The examination involves blood tests, physical, and urine test. You will be required to abstain from food for around 8-12 hours before undergoing medical exam.
The physical examination will consist of:
- Confirming your identity
- Urine sample
- Blood sample
- Height measurement
- Blood pressure
- Weight measurement
- Pulse measurement
- EKG for the elderly
- Questions about your medical history
The entire examination should take you 30-50 minutes.
Insurance companies go as far as testing nicotine in your blood. Mostly smoking cigarette can easily get huge amounts of nicotine in your blood system. This test will also determine whether you are still actively smoking or you are an inactive or passive smoker. Nevertheless, they don’t determine the cause of nicotine in your bloodstream.
The best thing to do is to avoid all avenues that may bring nicotine to you so as to be on the safe side.
The Waiting Period
You will be given an initial period of 365 days, in other words you insurance company wont cover any disease within the first year (except for accidents). This will discourage people from taking insurance after getting a disease. There are insurance policies that cater for maternity and pregnancy period. The waiting period for the maternity benefits is usually 10 months.