Health insurance premiums are calculated using many rating factors. Rating factors have much more influence on individual policy premiums than on group polices. Rating factors can include:
- Age: the older you are, the more you might pay.
- Health: the poorer your health, the more you might pay.
- Chronic conditions: having one or more chronic or existing conditions can increase your premium.
- Smoking/alcohol use: some companies charge more if you use tobacco or alcohol.
- Gender: some insurance plans charge more depending upon your gender.
- Geographic region: companies break-down coverage areas into 6-8 regions. Which region you live in can affect your premium.
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