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Can you elaborate? Do you pay the average monthly cost of the entire pool, and then any extra charges the hospital bills?
by Scaevolus 14y ago
Can you elaborate? Do you pay the average monthly cost of the entire pool, and then any extra charges the hospital bills?
- yummyfajitas 14y agoTypically you pay the average monthly cost of people with similar risk profile to yourself. Suppose the average monthly cost for nonsmoking men aged 30-35, BMI 25-27, not currently sick, is 2000 rs. Then I'll pay maybe 2100 rs (so insurance company makes a profit). I.e., I pay my average cost, not the average over the whole pool. If you are a smoking man aged 50-55, BMI 32-35, with diabetes, you'll pay more. You'll pay the insurance companies best estimate of your average cost, not our average cost.