Looking for the right type Medical Insurance Coverage? Policy Experts can assist you with any type of Medical Insurance in Las Vegas or around the Las Vegas valley. With the recent changes in the Health Care Reform, we understand how medical insurance coverage can be confusing. Let us sit down with you and determine the right type of Medical insurance coverage.
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How Premiums are Set
According to the health care law, insurance companies only base your premium can for only 5 things,
Age: Premiums can be higher for older people than for younger ones.
Geographical Area: Where you live has a big effect on your premiums. Some states have different law and regulations. This is caused by the differences in competition, local rules, and cost of living.
Tobacco use: Insurers can charge tobacco users up to 50% more than those who don’t use tobacco.
Individual vs. Family: Insurers can charge more for a plan that also covers a spouse and/or dependents.
Plan Category: There are five plan categories – Bronze, Silver, Gold, Platinum, and catastrophic. The categories are based on how you and the plan share costs. Bronze plans usually have lower monthly premiums and higher out-of-pocket costs when you get care. Platinum plans usually have the highest premiums and lowest out-of-pocket costs.
The key is knowing how your group insurance will be priced based off what elements. The health of yourself is not the only obstacle to worry about, but the health of your colleagues. For different companies there are different rates. This is based off the risk factors that the company presents.
However, group plans are less expensive because the risk is spread over a group of policyholders.
Age plays a huge role in how much you will have to spend each month.
Claim history affects your premium cost. If the population is older they are more likely to obtain cancer, hypertension, and other illnesses. Therefore, they are more likely to file claims. The more claims in your history the more the premium cost.
Location of Business is another factor that will determine your premium cost. For example, a building in downtown will cost more to insure their employees than a business of people in the slower suburban area.
Our experts will guide you to the best product that fits you and your families needs.
If you are interested in obtaining a quote from our licensed experts, please fill out the form provide on this page. Only an expert from our firm will contact you.
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