Health insurancePremiumamount is the amount you pay your insurance provider in order to maintain your health insurance coverage. Your health insurance premium is determined by factors such as age, level of coverage, and lifestyle.
Here’s a breakdown of what goes into determining your health insurance premium amount:
Who you are: Your age and the size of your family can have a big impact on what you pay for your health insurance premiums. Generally, people who are younger and have families will pay more for coverage than those who are older and/or single. Your gender also affects your health insurance premiums, as women tend to pay more for health insurance coverage than men.
Your lifestyle: Certain health factors, such as smoking and obesity, can also affect your health insurance premiums. Your insurance provider may also ask questions about your lifestyle, such as whether you drink alcohol or use drugs.
Your coverage level: The level of coverage you choose, such as a high deductible plan vs. a lower deductible plan, will also affect your health insurance premiums. Higher levels of coverage come with higher premiums.
Your provider: Different insurance providers offer different rates on health insurance premiums. You should shop around to find the best rate for the coverage you need.
If you need assistance figuring out how much you should be paying for your health insurance premium amount, contact your insurance provider or an insurance broker to find the coverage and premium that’s right for you.
Sources:
https://www.healthinsurance.org/glossary/premium/
https://www.ehealthinsurance.com/resources/health-insurance/your-total-premium-cost
