REASONS TO INCREASE IN HEALTH INSURANCE PREMIUM

Top Reasons for Your Health Insurance Premium Increase Every Year.

Inflation, there are many other reasons that health insurance becomes expensive. you can take small steps for some of these factors.

Inflation in Healthcare

Other than the expensive cost of living, the inflation in healthcare is an unavoidable expense. Health expenses like hospitalization, medicine costs, surgery costs, diagnostic costs, etc. only get more expensive each year. To cover these rising costs, insurers will increase the health insurance premium.

Your Increasing Age

Aging is something most people find hard to come to terms with. We can't stay young forever; ultimately our bodies and strength start deteriorating. You must have already heard about expensive insurance premiums for senior citizens above a certain age.

As we get older age, the body gets weaker and more vulnerable to diseases. The insurers are taking a higher risk of settling claims by issuing policies to older people so that they'll charge extra for the protection offered. This is also why it is always recommended to buy a health insurance policy when you are young.

Medical Treatment History

Before, buying health insurance if you have any medical history and it doesn't come under standard case acceptance. thane company can impose loading in resulting increase in basic premium.

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Team FOXINA

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