IT'S A COMPANY...

Are you comparison shopping online?  Talking to insurance companies, answering all their questions, and providing as much information as you possibly can about your medical history?

What if I told you - you'll never lower your health insurance costs by doing things that way.  If in fact, you may find that insurance companies aren't interested in covering you at all...or the rate they are quoting is much higher than you expected or were promised.

Why?  I'm not an insurance expert, but I'll share with you what I've learned.

It's an Insurance COMPANY...

And what do companies exist for?  They exist to make money.  How do they make money?  They take in more money than they give out.

This basic business principle is more clear with other types of insurance.  Like your home owner's insurance.  Are you able to make unlimited claims on your home owner's insurance without your rates being raised?  No.  Why?  The policy is for YOUR home.  They are only covering you.  Therefore, YOU are the risk factor. 

Regarding health insurance, the principle is the same.  However, health insurance for large group works differently.  The risk factor is not YOU alone, but is spread over a whole conglomerate of persons so that you, as a participator in the large group plan, are not singled out for higher premium prices.

But does it work that way with individual and small group health?  NO.  Just like on your home owner's insurance, the policy is for YOU.  YOU are the risk factor.

Therefore, you cannot expect to have unlimited doctors visits, all prescriptions covered, and maximum coverage - then NOT have sky-high rates on individual insurance or small group insurance.

How Insurance Companies Calculate Your Premium Price

Insurance companies' marketing and advertising may say something different, but here's the unfortunate truth... Insurance companies aren't all that interested in covering your medical expenses.  They are interested in making money. If you are shopping for health insurance, you and your prospective insurance carrier are in the midst of a strange mating ritual.

Your prospective insurer really wants your patronage, and the money they will make on your premiums.  At the same time, they really don't want the burden of paying on your medical expenses. 

So your prospective insurer is trying to woo you with the "best" (read, most expensive) coverage available, while also trying to obtain as much "dirt" on you as possible in terms of your medical history.  If they can get the scoop on your medical history, while convincing you that you need maximum coverage, they will make the maximum return on your insurance policy.  Meaning - you pay more. 

How does a prospective insurer get this "dirt" on you?  Find out as you go on to - Your Medical History

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