For a particular health insurance plan, the cost of coverage is determined by certain factors that have been set by law like:
- Age: The cost of medical care for each person covered by a policy is determined by that person's age, with costs rising as they age. For children under the age of 14, adding them to a health plan will be free, but once they become 15, the annual premium will be increased.
- Your location: Based on the state and county you reside in, health insurance providers choose which policies to offer and how much to charge for coverage. In Florida, this means that a resident in Miami-Dade County may pay less for the same policy than a person in Jackson County.
- Smoking and tobacco: Although the state sets the maximum increase, your health insurance costs might increase by as much as 50% if you smoke.
- The number of insured: The entire cost of a health plan is determined by the number of persons it covers, as well as the age and potential cigarette usage of each individual. A family of three, consisting of two adults and a child, would, for instance, pay a substantially greater monthly premium for health insurance than an individual.
When comparing individual policies, look at what each policy covers in addition to monthly rates and fees. If all this sounds confusing, don't worry; our team of experts is ready and waiting to partner with you in finding the right health insurance solution. We are here to help with all your questions and concerns so you can make an informed decision.