At the time of selecting a health insurance plan, you request for quotes from multiple service providers. Then you pay special attention towards the health insurance premiums and pick the best service provider out of them. In the meantime, you should also have a solid understanding about the main factors, which are in a position to create an impact on your health insurance premiums.

Here are some of the most prominent factors, which are capable of creating a massive impact on the health insurance premiums. If you can wisely deal with these factors, you will be able to pick the best health insurance plan without any difficulties.

  • Level of coverage

The level of coverage offered to you differs from one health insurance policy to another. That’s the main reason behind why you will discover differences in the insurance premium amounts as well. You will need to take a look at the areas that you are being covered. Then you will notice that some of the areas, which you really don’t want are included as well. You are provided with the freedom to take out the coverage areas that you really don’t need. You should double check and make wise decisions in here. Then you will be able to overcome unexpected problems in a convenient manner and keep the peace of mind at all times. You will be able to receive impressive results out of this at all times in determining the perfect balance in between coverage and premium amount.

  • Prices of prescription drugs

Prices of prescription drugs are in a strong position to create a massive impact on the health insurance premiums. If you are taking specialized prescription drugs and if the cost associated with them is high, you can expect your health insurance premiums to get high as well. Otherwise, it will be a loss for the health insurance service provider. You will need to keep this in mind when you are making the decision to go ahead with a health insurance policy.

  • Which healthcare service providers take part in it

A provider network can be considered as a group of hospitals, doctors, nurses and other clinicians, which patients can approach. Depending on the network and the participants, your health insurance premiums would vary. Therefore, you will need to keep that in your mind as well. You should go through multiple options and figure out what exactly is needed. Then you will be able to subscribe yourself to the perfect health insurance network and keep the premiums low as much as possible.

  • Value based models

Value based models are in a position to provide a better level of care for the people who have obtained health insurance plans. Depending on the specific value based model that you can get, your health insurance premiums would vary. Therefore, you should keep that in your mind and proceed with the health insurance plans at all times.

  • Fees and taxes

Your health insurance policy is subjected to a variety of taxes and fees. These are capable of creating a major negative impact on the health insurance premiums that you will have to pay at the end of the day. The health insurance providers will carefully evaluate these factors and work out on your health insurance premiums. Therefore, you will only have a little degree of freedom to customize them.

  • Your tobacco use

If you are a person who smokes a lot, there is a high possibility for you to run into a large number of health conditions. Due to the same reason, there is a high possibility for you to obtain claims from the health insurance policy. The health insurance service providers take this factor into consideration at the time of working out on the health insurance premiums. Therefore, people who smoke and use tobacco will have to pay higher premiums.

  • Your body mass index

Your body mass index reflects a lot of information about your health. If your body mass index is in the healthy range, you are provided with the chance to keep the health insurance premiums low as much as possible. But if the body mass index is above a specific threshold level, you will be forced to pay higher health insurance premiums. You will not be able to overcome it. That’s because having an unhealthy body mass index would increase your chances of being subjected to different health conditions.