Health Insurance. Do Women have to pay higher rates?

Women, as a group, get far better deals on auto and life insurance. But once it comes to health insurance, a woman will attract higher rates than a male counterpart. Why is this so and what can a woman do to pay far less?

Lets take some time to look at some facts.

There is a general consensus that Women tend to require more health attention than men. Why? Lets try to find out.

1. The female gender goes through monthly circles that take a toll on them. The degree to which this affects them defers from lady to lady. However, we all know that the loss of blood is part of the whole process. Considering that this happens every month with the attendant psychological implications for some ladies, they should require more health care.

As if this is not enough, women also give birth to 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.

I hope the women folk are not annoyed with Insurance companies for their "insensitivity"? Lets understand that they are there to provide a service but much more to make profit for themselves and therefore look at every factor that may come to play in their policies and service provision.

To ensure that they make profit, they have studied and examined various cases to determine what group of people are likely to make more claims and how much is likely to be claimed.

If for example, 1 out of every 1,000 insureds within a profile makes a claim of $10,000 within a year, they will still be profitable if each person in that group pays $200. This simply means that the higher the number of claims and the amount claimed per profile, the higher their rates will be.

So since women generally need to make more health insurance claims than men and therefore a higher amount, they are required by insures to pay more on their health insurance than their male counterparts.

So how do you still attract cheaper rates as a woman?

To get lower rates, women would need to consider the following.

1. Quit alcohol, smoking and the use of tobacco in any form.

Desist from dangerous games and sports.

3. Quit jobs that expose you to hazards.

Lower your rates and increase your attraction by staying in shape.

Keep a constant exercise regime.

6. Be happy. Happy people fall ill less often. In fact there are health conditions that are caused by unresolved resentment, bitterness and worry.

7. Get and compare quotes from a wide range of insurers. Different insurers have different loss and claims histories. Furthermore, they also have different weightings for the different factors that are used to determine your rates.

Remember there are over 2,000 insurance carriers in the US alone. This means that you might have 2,000 different rates for your profile. Some will bill you more; some less.

Will you pay more or less? It depends on how many quotes you get and how thoroughly you compare them.

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