Health insurance companies are for profit entities that, first and foremost, work to ensure that their business is profitable.
While many companies do care about their policy holders, their first priority is to make sure they remain solvent.
This generally translates into an increase in health insurance premiums for many of their customers, especially if the customer has been submitting quite a few claims against their policy.
Unfortunately, most people are working with a tight budget these days and can't afford to pay more for their medical insurance.
If this sounds like your situation, there are a few things you can do to try to reduce the cost of your insurance.
When your insurance company notifies you that they are increasing your health insurance premiums, ask them why.
Most of the time, it may relate to the number of medical claims that have been submitted on your behalf.
Other times, it may be because of a change in health habits that change your risk profile.
For example, if you were diagnosed by your doctor to be overweight or to have developed unhealthy habits such as smoking.
Health insurance companies understand that these things increase the likelihood that you will have an increased need for medical care and are charging you accordingly.
Once you find out the reason behind the increase, talk to them about what you can do to lower it.
If it is the result of an increased risk profile, ask whether losing weight or quitting smoking will reduce your premiums.
Most times it will.
Others whose increase has nothing to do with their health may need to try a different tactic.
If you have been with the company for a number of years, point that out and try to negotiate a lower rate.
Let them know that you have been shopping around to other insurance companies and can secure a better rate elsewhere.
Because it is so expensive to attract new customers, they may lower your health insurance premiums to keep you as a policy holder.
If they refuse to negotiate, then you will want to shop around.
In fact, you should probably do this before you call your insurance company because they may want to see the health insurance premiums other companies are offering you.
Use an online quote website or talk to a qualified insurance agent for assistance in getting quotes from other companies.
Just because your premiums go up doesn't mean you can't do anything about it.
Use all of the tools at your disposal to get the best price on your medical coverage.
While many companies do care about their policy holders, their first priority is to make sure they remain solvent.
This generally translates into an increase in health insurance premiums for many of their customers, especially if the customer has been submitting quite a few claims against their policy.
Unfortunately, most people are working with a tight budget these days and can't afford to pay more for their medical insurance.
If this sounds like your situation, there are a few things you can do to try to reduce the cost of your insurance.
When your insurance company notifies you that they are increasing your health insurance premiums, ask them why.
Most of the time, it may relate to the number of medical claims that have been submitted on your behalf.
Other times, it may be because of a change in health habits that change your risk profile.
For example, if you were diagnosed by your doctor to be overweight or to have developed unhealthy habits such as smoking.
Health insurance companies understand that these things increase the likelihood that you will have an increased need for medical care and are charging you accordingly.
Once you find out the reason behind the increase, talk to them about what you can do to lower it.
If it is the result of an increased risk profile, ask whether losing weight or quitting smoking will reduce your premiums.
Most times it will.
Others whose increase has nothing to do with their health may need to try a different tactic.
If you have been with the company for a number of years, point that out and try to negotiate a lower rate.
Let them know that you have been shopping around to other insurance companies and can secure a better rate elsewhere.
Because it is so expensive to attract new customers, they may lower your health insurance premiums to keep you as a policy holder.
If they refuse to negotiate, then you will want to shop around.
In fact, you should probably do this before you call your insurance company because they may want to see the health insurance premiums other companies are offering you.
Use an online quote website or talk to a qualified insurance agent for assistance in getting quotes from other companies.
Just because your premiums go up doesn't mean you can't do anything about it.
Use all of the tools at your disposal to get the best price on your medical coverage.