What are the factors that make the price of health insurance what it is.
When someone is interested in health insurance usually compare the different options by searching the internet and usually talk to their acquaintances and friends who already have one hired in order to know what offers at the level of coverage and what they pay for it . This gives a reference, but it is still a reference, because not all people pay the same for their insurance.
It is clear that we do not talk about the same thing, that a car is not a person, but the operation when calculating the price of insurance has many similarities: asking a friend how much he pays for the insurance of his car does not give us a A clear reference, unless we have the same car and a similar vital situation (parking to leave the car, same years of license, kilometers we make per year, number of parts, etc.).
We mean by this that just as a car insurance depends on these and other factors, health insurance also varies depending on the characteristics of the person, the insurance that contracts and various situations that we discuss below so that You can know what it is that makes health insurance the price it has.
What the price of insurance depends on
When determining the price of insurance are many factors that intervene. These factors are studied in the actuarial department of insurers, which is specialized in the evaluation of risks and costs through the application of statistical and mathematical models. The result of this evaluation will give the price to pay to be insured with the particular conditions agreed.
Some of the factors that are taken into account are the following:
Type of insurance: If it is a reimbursement insurance, where the person goes to the professionals he or she wishes, he personally pays the bill and then the company returns a previously negotiated percentage, or a medical chart, which is the one in which the person visits centers And professionals attached to the company.
Age: Here, to continue with the car insurance analogy, the question goes backwards. In a car insurance you pay more when you are young, because of the inexperience and possible risk behaviors, whereas in a medical insurance the probability of getting sick increases with age, so the policy of a young person is usually cheaper than An elderly person or a baby.
City of residence: Depending on the province in which a person lives the cost may vary because it is a function of the cost of the medical providers.
Individual or family: It is not the same in terms of cost to buy insurance for a single person as if we are talking about insurance for several members of a family. In that case, in Sanitas there is a discount of 8% if there is more than one insured.
Corporate or collective policies: Similarly, if we talk about a policy that includes many people, such as workers in a company, the price is negotiated with the insurance company.
Coverage: A third party insurance in the car is much cheaper than one to all risk because they do not cover the same thing, because at the same level of health. Health insurance coverages also make it vary enormously. It is not the same basic coverage that one that covers medications, major interventions, hospitalization, dental services, etc.
There are more factors, but the comments are some of the most representative to give an idea of why insurance may be different between some people and others. As a curiosity, to comment that there are things that are not taken into account, like the sex of the person, that does not vary the price, nor any genetic question (that the person has a predisposition to have some disease).
Is the price always the same?
Once the price is known and the insurance is contracted, the price is usually established until one year of the contract or until the end of the calendar year. Once that time arrives, the price is usually revised to adjust to the new circumstances, if any (increase of the CPI, health situation of the insured, if it belongs to a working group whose need for medical attention is increasing, etc.). In such a case, the insurer should advise the insured well in advance so that it decides if he wants to go ahead with his health insurance.
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