hamburger
×
Digit General Insurance Logo
Powered By Digit
Digit Health Insurance

9000+ Cashless Hospitals

Exclusive Wellness Benefits

11 Key Factors That Affect Your Health Insurance Premium Costs

What is an Insurance Premium Factor?

Top 11 Factors That Will Affect Your Health Insurance Premium

The different zones in India and examples of their premium increase are as follows:

Zone A Zone B Zone C
Delhi/NCR, Mumbai including (including Navi Mumbai, Thane and Kalyan) Hyderabad, Secunderabad, Bangalore, Kolkata, Ahmedabad, Vadodara, Chennai, Pune and Surat All Cities apart from A & B belong to Zone C
Premium of ₹6,448 Premium of ₹5,882 Premium of ₹5,315

How to Calculate Health Insurance Premium using a Calculator?

How to Choose the Right Health Insurance Plan?

Tips Descriptions
Evaluate Coverage Options Assess the coverage options, including the scope of benefits, network of providers, and specific services covered. Ensure the plan aligns with your healthcare needs.
Analyse Out-of-Pocket Costs Examine deductibles, copayments, and coinsurance to understand your potential out-of-pocket expenses. Balance premium costs with your ability to manage spending.
Check the Provider Network Ensure the plan's network includes your preferred doctors, hospitals, and specialists. A broader network offers more flexibility in choosing providers.
Consider Prescription Drug Coverage Review the plan’s formulary to see if your medications are covered and at what cost. Some plans may offer better coverage for certain drugs, affecting your expenses.
Review the Plan’s Flexibility Consider how the plan handles referrals to specialists and out-of-network care. Flexible plans allow easier access to specialised services without referrals.

What are Economic and Market Influences on Health Insurance?

Things to Know About Health Insurance Premium

If you're considering purchasing a health plan and need clarity about its costs, here are some important facts to understand:

Things to Know Description
Premium Factors Health insurance premiums depend on various factors, including your age, pre-existing health conditions, overall health status, and lifestyle. These elements are assessed to determine your premium rate.
No-Claim Bonus (NCB) You may benefit from a lower premium thanks to the No-Claim Bonus, which rewards you with a discount for each year you do not claim. This can reduce your overall premium cost.
Premium Calculator You can estimate your health insurance premium using online calculators. These calculators can help you compare plans and understand potential costs based on your personal details and coverage needs.
Coverage for Pre-existing Conditions Health insurance can cover pre-existing conditions, such as diabetes, from the day your policy starts, depending on the plan and insurer. Be sure to review the terms and waiting periods associated with such coverage.

Understanding the factors affecting health insurance premiums is crucial for managing your healthcare expenses effectively. These factors, from age and location to lifestyle and health history, play a significant role in determining the cost of your insurance. Evaluating your options and adjusting based on these factors can lead to more affordable and suitable health insurance solutions.

FAQs on Factors Affecting Health Insurance Premium