Preferred Risk Health Insurance

While it may seem odd, in the health insurance industry the medical history of a person is equated the same way as a motorist's driving record. Therefore, a person with a near perfect medical history will be seen by insurance companies as a perfect driver. While that may not really fair, since people can be struck with illness unexpected or inherit bad health through genetics, from a financial standpoint it's what keeps the health industry in business.

So preferred risk health insurance is available to healthy people who meet specific medical guidelines. This type of insurance will offer significant discounts, since the insured person has proven thus far not to be an insurance risk.

How Do You Qualify?

To qualify for preferred risk health insurance individuals must meet some requirements. They must have a body frame that falls within the normal range as determined by the AMA (configured according to gender, height and weight); this is also called BMI, or body mass index. If you are interested in knowing your BMI, search for the keyword on line. Many websites offer an online calculator that can help you determine if you qualify.

Some other requirements state that a person must be free of all prescription drugs, and have a “clean” record of any serious medical treatment for a period of five years or more. Lastly, in order to qualify, an individual must report a healthy physical examination within the last twelve months, with favorable tests on blood pressure, cholesterol management, and blood work.

Who Really Gets Qualified?

It's estimated that one in twenty Americans could qualify for preferred risk health insurance. But to find such a plan would mean finding an insurance company that carries this type of insurance and considers pricing methodology. Usually, preferred risk health insurance applicants seem to favor high deductible insurance plans that offer Health Savings Accounts. Discounts for applicants have reportedly been significant ($200.00 to $600.00 depending on household), although there is no firm guarantee. The final discount is decided upon by the insurance company.

One cautionary reminder: Don't give up your regular health insurance in hopes of qualifying for preferred risk health insurance. There is strict process of scrutinizing individuals and their medical history, and the wait can be long and risky. Any type of health insurance is better than risking your life and finances with absolutely nothing.