Health Insurance Rates for Smokers
The cost of smoking is high. Smokers pay more for life insurance. They pay higher sales taxes when they buy cigarettes. In many cases, they also pay more for health insurance. A majority of people are OK with this; a 2009 story by MSNBC highlighted a survey that stated that 57 percent of Americans favor having smokers pay higher premiums for their health insurance.
Other People Are Reading
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How much more are smokers paying?
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A 2006 story by MSNBC reported that companies such as American Financial Group, PepsiCo, Gannett Co. and Northwest Airlines were charging their employees who are smokers more for their health insurance. The story says that these companies were charging smokers about $20 to $50 more a month.
Don't lie
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In 2008, the Whirlpool Corporation suspended 39 workers when the corporation found out they were smoking, according to a Chicago Tribune story. These workers had enrolled in a health insurance program for nonsmokers, one that cost them $500 less a year, according to the Tribune story.
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The reasons behind the extra cost
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Health insurers charge higher premiums for smokers because they are more likely to need medical care during their lifetimes. This ends up costing health insurers, who charge the higher premiums to cover their own risk.
Life insurance
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Smokers may have fewer coins to put in their piggy banks. Many insurers charge smokers higher life insurance premiums. This is because it is riskier for them to insure smokers.
A trend that's on the rise
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Smokers should expect to continue to pay more for their health insurance. As the number of smokers declines, there is an ever-shrinking minority fighting against such fee increases.
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References
- Photo Credit Image by Flickr.com, courtesy of Nicole Makauskas Image by Flickr.com, courtesy of Gary & Anna Sattler
