Information on Health Insurance High Risk Plans

Health insurance high risk policies are becoming more and more common in the marketplace today. With more people engaging in risky behaviors, this has become a pretty large niche for insurers. A high risk person is someone that engages in any behavior that is considered too risky to be covered under a traditional insurance policy.

Examples of High Risk Behavior

  • Thrill seekers - This group of people has quickly emerged to be one of the fastest growing groups in the world. Whether you enjoy regular skydiving, bungee jumping or deep sea diving, you could be included into the thrill seeker category. If you do anything that you see on the "X Games", you probably fit into this category.
  • Sexually promiscuous - If you regularly engage in sexual intercourse with multiple partners, you could be considered a high risk person. The nurse or interviewer will ask you about your sexual history and number of partners. Sometimes, if you have an STD, the insurance company will lump you into this category.
  • Rare diseases - If you suffer from a rare disease, you may be uninsurable by normal standards. You might be a good candidate for a high risk insurance policy.
  • Risky career - Certain careers will also fall into the high risk category. Insurance companies may have a list of careers that are considered uninsurable. This may result in you needing a high risk insurance policy. If you race cars or motorcycles, for example, you would be considered a high risk behavior person.

What does it mean?

While you won't be able to get a normal insurance policy, it does not mean that you cannot be insured. It simply means that you have fewer choices. You will have to go out and find a policy that will meet your needs and a company that is willing to insure you. Your insurance research will be more extensive and your search will be more difficult than it is for the regular person, but there is usually something out there for you.

Paying the premium for a high risk insurance policy will be more expensive than a similar policy with a traditional insurance company. When you are lumped into a high risk group, you are a lot harder to insure. Since there is such a high risk of injury or death, the insurance company will have to charge you enough to cover the risks. With a group of people in your same condition, they know that a large percentage of them will be injured or die from their behaviors. This means that they have to collectively charge the group enough to cover the risk pool. They have to cover the payment pool, administration costs, as well as profit. High risk insurance groups are in business to make money as well, therefore they will charge you accordingly.

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