In most other cases of Insurance, women get the better deal. But Health insurance decides otherwise. Why Women get higher rates than Men when it comes to health insurance is exactly what I would Examine here.
Lets look at some of these issues.
There is a general consensus that Women tend to require more health attention than men. Why? Lets try to find out.
Every normal female experiences menstrual cycle. We all know that blood flows during this period and there are psychological issues. From a particular age to menopause, this cycle continues apart from during pregnancy. So how many years of blood flow are we talking about? Does this have any implication on the health needs of women generally? This is one issue.
As if this is not enough, women also bear children. The period of gestation has its health needs but more than this, the after effect of the different pregnancies must have some kind of effect on their bodies resulting in a higher need for health care.
Reminding ourselves that insurance companies are not government aid agencies but businesses out to make profit, we would see why they need to take these factors into consideration.
The major factor they take into consideration is what percentage of any group of insureds would likely make claims, the amount claimed and the consequences to their business.
Lets try to make it clearer. If a certain percentage of a group of insureds make a claim, their overall rate must be such that the insurance company would still make profit. For example, 1 out of 100 insureds make a claim of $1000 and the the insureds pay a rate of $100, the company would still make profit and can even afford to lower the rates.
Following the above, we would see that since women are known to generally claim on their health insurance more than men, they would necessarily be required to pay more rates than men.
Am I saying women can’t get affordable health insurance coverage? No!
With the suggestions enumerated below, you would be sure to get a more affordable health insurance coverage.
Dangerous games and sports should be avoided.
Any jobs that are hazardous should be avoided.
Lower your rates and increase your attraction by staying in shape.
Improve your health by doing regular exercises.
Engage in things that make you happy as happy people are less likely to fall ill.
Very importantly, get and compare quotes extensively before taking up a policy. You would be able to get very affordable health insurance coverage.
With over 2,000 companies providing health insurance, you would surely have varying rates. So take your time and get the most affordable health insurance coverage.
Whether you pay more or less could be determined by the number of quotes you get. The more quotes you get, the more options you have.