Under the new Affordable Care Act rules, insurance companies will not be able to charge individuals within the same age group more because of their gender or health status, nor decline you because of a pre-existing condition or other health-related reason.
The premiums for health plans on and off the exchanges will be based on several factors:
1) Age of the insured
2) Where you live – the cost of care differs from city to city
3) Tobacco usage – premiums can be increased up to 50% above the rates for non-smokers
4) The size of your family (this is important in subsidy calculations)
The cost for the oldest person’s coverage can only be a maximum of three times more than the youngest person for the same plan.
If you have any questions about health insurance plans or would like a free quote comparison, please feel free to give us a call at 1-800-571-2980. You can also reach us by e-mail at Info@terminsurancebrokers.com 24 hours a day.