What Determines the Cost of a Health Insurance Premium?

Save
Next Video:
EPO Versus HMO Health Insurance....5

A wide variety of different factors all go into determining the cost of a health insurance premium. Find out what determines the cost of a health insurance premium with help from the president of The Stratford Financial Group, Inc. in this free video clip.

Part of the Video Series: Health Insurance & More
Promoted By Zergnet

Comments

Video Transcript

Hello, I'm Jeffrey Ingalls, President of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. And right now, we're going to talk about what determines the cost of a health insurance premium. A health insurance premium can be determine in a number of different ways and it depends upon the state and market segment in which the plan is being offered. Right now, we will discuss the many different factors that maybe used to determine the cost of a health insurance premium in the fully insured individual or group insurance marketplaces. Those factors are as follows. The effective date of the plan, the type of plan being purchased, the home residence of the person being insured or the zip code of the business being insured. The demographics of the person or persons being insured, either individually or the individuals being insured in a company group employer sponsored setting. The medical history; again, this is going to apply to one individual or to the covered individuals as part of the group or employer sponsored coverage. Also, speaking of employer sponsored coverage, sometimes medical claims history of the group or the employer can also be taken into account when setting a health insurance premium. My name is Jeffrey Ingalls. I'm the President of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. We can be found online at www.stratfordlink.com and you just watched what determines the cost of a health insurance premium. Thank you.

Featured

Related Searches

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!