 |
INTERNATIONAL HEALTH INSURANCE |
|
|
|
Back to MAIN INDEX "Tips for Understanding International Insurance" | |
|
Brought to you by |
||
|
|
||
to favorites| |
INTERNATIONAL HEALTH INSURANCE |
|
|
|
Back to MAIN INDEX "Tips for Understanding International Insurance" | |
|
Brought to you by |
||
|
|
||
to favoritesUNDERSTANDING RISING INSURANCE COSTS
TRYING
TO MAKE SENSE OUT OF RISING HEALTH INSURANCE COSTS
RISING HEALTH CARE COSTS
RISING INSURANCE RATES
RATE COMPARISON OF INTERNATIONAL AND DOMESTIC HEALTH INSURANCE
THE REAL DRIVER BEHIND HEALTH CARE COSTS
INSURANCE RATES WILL INCREASE
WHY
INTERNATIONAL INSURANCE RATES INCREASE
INTERESTING
& ALARMING STATS ON HEALTHCARE COSTS
WHY INTERNATIONAL
INSURANCE RATES INCREASE
This is always a question! We are not sick! We have not been to the doctor!
We have not used the insurance! Yet our rates went up! Why? First of all, it
is important to note that your rates will not go up even if you have used
your insurance. Insurance companies do not raise the rates on individuals if
they have used the insurance. So then, why do the rates go up?
There are several reasons. Insurance rates go up annually because of
inflation. Medical inflation in recent years has been running around ten
percent. Why that high? Because the cost of medical care has increased for
various reasons, one reason being the cost of prescription drugs and another
being the increased use of advanced and expensive technology.
Besides this, when you move into a higher age bracket, the rates will go up
for you, because insurance rates are based on age.
Finally, if a couple of people in your age group (i.e., those between the
ages of 35-39 who applied for Plan X with Company Y in 2003 when you applied
for your coverage) had a serious case of cancer or a heart attack that cost
hundreds of thousands of dollars, that would cause your rates to increase.
The insurance company compares “premium received” to “claims paid” for your
35-39 age group; and if “claims paid” exceed “premium received,” then the
company will increase the premiums in that age group in order to recoup its
loses in the coming year.
| Need Help? Call 480/813-9100; Fax 480/813-9930; Email: info@gninsurance.com |
