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Why Do Health Insurance Rates Go Up With Age?

One of the most difficult aspects of maintaining continuous health insurance coverage for retirees and older individuals is the rise in policy premiums. As people age, the cost of their medical insurance rises dramatically, and such increases become exponential as they approach the end of their natural life expectancy.

  1. More Frequent Visits

    • Statistically speaking, increased age requires more frequent medical checkups to protect consumers against conditions arising from inevitable bodily deterioration. More frequent visits to primary care physicians and specialists result in high expenses for insurance carriers, an issue that filters down to consumers in the form of more expensive policies.

    More Frequent Treatment

    • The weakening of the body’s organs and other systems that accompanies the aging process results in the need for additional medical treatment to maintain a comfortable lifestyle and prolong life itself. Many of these services require regular repetition and constant maintenance, and come with extremely high price tags the insurance companies are obligated to pay.

    More Serious Conditions

    • Compared to common and ordinary ailments faced by younger people, the medical issues presented by older individuals tend to be much more serious and problematic. According to the University of Rochester Medical Center, “The Centers for Disease Control (CDC) estimates that 88 percent of people over age 65 have at least one chronic health condition,” an issue that is often exacerbated by the fact that weakened bodily defenses result in multiple simultaneous conditions.

    More Expensive Services

    • The treatment required to resolve issues faced by older individuals is often significantly more complex and expensive, simply because of the multitude of factors affecting the bodily health of the elderly. Certain treatments that may work for younger patients might actually pose serious additional risks to older people, and therefore cannot be implemented. Alternative procedures, many of which are less effective and take considerably longer to complete, must be sought to address conditions that could otherwise be cleared up relatively quickly in younger, healthier patients.

    Addressing The Issue

    • Aging individuals can do little to prevent the continuous rise in health insurance premiums. However, by simply taking better care of their bodies, they can reduce the likelihood of contracting certain diseases and becoming afflicted with common ailments, thereby reducing the need for frequent medical care. Eating healthier foods and exercising regularly has a dramatic positive impact on the body’s ability to fight off disease. Additionally, making adjustments to the type of health insurance plan in place can lower monthly insurance bills.

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