Health Insurance Premium Calcuation

Posted by Starwin on 11th January, 2010

Health insurance or Medicaid premium calculation depends on various factors.  It depends on the nature of the cover and the age of the person.

The rate of premium rises according to the sum insured. Also if the insured has a higher risk in terms of health, he or she will be charged premium at a higher rate.

Age is also a major deciding factor in health insurance premium calculation. Obviously, an older person has to pay a higher premium for the same sum insured compared to a person in his 20s or 30s.

The medical condition and general health  of the person is also considered, the health insurance company also looks into claims if any, filed by the person in the previous years.  At times, health insurance companies may enter preexisting diseases but charge high premiums. All these play a role in deciding the premium amount for health insurance.

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