When you sign up for health insurance, the expectation is that the provider will take care of medical bills plus other costs. Before determining whether you qualify, underwriters examine your health history. Smokers, overweight people and those living with chronic ailments still get insurance coverage but at a higher premium than applicants with none of these conditions. Eating healthy and keeping fit through an exercise or diet regime comes with a host of benefits. Should these benefits also include getting insurance discounts?
Risk factors in the premium computation
Most, if not all insurance companies calculate your premiums on the strength of information provided. From your answers, they can tell whether you are a high or low-risk person. For example, if you consume tobacco products, in any form, they may charge you more or decline to grant you coverage. On the other hand, a high BMI (Body Mass Index) can result in your paying a higher premium than someone having a normal one. However, living healthy reduces your chances of falling ill. You can benefit from reduced premiums.
Employee wellness programs
Employers know that when their employees are in sound health, companies enjoy high levels of productivity. For this reason, more companies are now encouraging their workers to join wellness programs. As an incentive, employees who complete or achieve the set goals earn discounts on their health insurance covers. From these, employers can either reduce staff deductions on the medical cover or offer the same as a full benefit.
Impact of improved health
Unhealthy habits come with costs, some too immense. Take for instance if you are a smoker spending about $10 daily. You could also pay a similar amount or more for junk food. However, if you eliminate these habits from your life, you end up saving $3600 a year. On average, if you reduce your weight by 10 percent, medical costs for the rest of your life decrease by $2,200. That is only the financial aspect. Concerning health, you not only avoid expensive medical bills but also delay the onset of lifestyle diseases such as diabetes and cancer. By quitting smoking, drinking or unhealthy food, you stand to gain from reduced insurance premiums owing to the reduced risk status.
Junk food, tobacco, and alcohol usage are some of the lifestyles that cause deterioration of your health. However, by changing your lifestyle, you avoid and reverse the possibility of illness. Going to the gym, exercising from home and watching your diet always come in handy when you want to keep fit and remain healthy. Employers are offering incentives to encourage workers to join wellness programs. A decision to pursue healthy living also comes with financial benefits. If you seek health goals, insurance companies reward you reduced premiums on medical covers.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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