Health insurance costs

When it comes to determining the premium, you pay for your health plan, age is a major factor. Previous medical history and postcode also play a role in deciding your health premium. A variety of lifestyle or health related habits (behavioural factors) can have a major impact on a person’s health. 

Behavioural and social issues that impact on health and consequently on your insurance policy, include alcohol, smoking, lack of physical exercise, poor diet leading to obesity or malnutrition and problems resulting from drug taking.

Costs may be lower if:

· You’re younger

· You have fewer health issues

Costs may be higher if:

· You’re age 50 and over, because you may experience more health issues

· You use tobacco

· You include your spouse or dependents, because you’re charged for each person covered by your plan

How to make health insurance more affordable?

If you’re choosing health insurance but are interested in keeping it low cost, you can adapt your cover to suit your budget and your needs.

But remember a more affordable health insurance plan might not provide all the cover you need, so don’t base your choice on cost alone.