If you are
currently owning medical or health insurance, you will probably find out that
the medical insurance rates are
increasing from time to time. The increasing rate of such medical insurance
happens not in a short period; it happens like periodically as once in two
months. Hence, if you come with limited budget, it will be very much
troublesome for your financial aspect.
If you do come
with such tight budget, there is something you can do about these increasing medical insurance rates: knowing and
comprehending why it happens. Knowing and comprehending why and when your
medical insurance rates increase will be helpful for you in knowing when your
medical insurance rates are going to up again.
The premiums of medical insurance rates do increase
quite a lot of time, and they are rarely (even never) go down. The mechanism is
actually similar to what happen in other business: all the costs of services or
products are increasing along with the nation’s inflations. Hence, to be able
to survive in the middle of inflation, the medical insurance companies are to
increase their premium costs.
Another reason
of why your medical insurance rates
are increasing is that you make a claim very much frequently; by that it means,
you make your insurance company spend much money for you. This is what happened
in all general insurance; the more often you make a claim, the more money the
company will ask you to pay (the premiums).
Due to this
reason, there is probably a person who is frequently get sick and claim his/her
insurance company quite a lot, and shocked with the increasing medical insurance rates he/she should
pay. Other reasons of why the rates are increasing are actually dealing with
the insurance companies’ regulations.
Most insurance
companies are offering higher medical
insurance rates, to differentiate between a person who make a frequent
claim and those who rarely make a claim. For this reason, people with chronic
disease are to pay higher than ones who suffer for no disease.
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