Can high BMI affect my expat health insurance premium?
We all know that our weight can have an impact on our health, but did you know that it can also affect your expat health insurance premium?
If you have a high Body Mass Index (BMI), you may be classified as obese, and this can lead to higher premiums or even exclusion from some plans. Obesity is a major risk factor for a number of chronic conditions such as heart disease, stroke, diabetes and certain types of cancer, so insurers view it as a high-risk condition.
What is BMI?
Body mass index, or BMI, is a calculation that allows your health care provider to quickly estimate if you are at a healthy weight for your height. BMI is not a perfect measure, but it is the best single measure of overweight and obesity. Many health insurance companies now use BMI as one factor in determining premiums.
This may be because people who are overweight or obese are more likely to develop illnesses that may require long-term healthcare and are expensive to treat. Some research has shown that people with higher BMIs tend to have higher health care costs.
For example, one study found that for every 5-unit increase in BMI above 25 (which is considered overweight), there was a 27% increase in medical costs. So, if you’re planning on buying health insurance, it’s important to know your BMI. You can calculate it yourself using a BMI calculator or have it calculated at your next doctor’s visit.
How is BMI calculated?
BMI is a number calculated from a person’s weight and height. For adults 20 years old and older,
BMI falls into one of these categories:
underweight = <18.5
normal weight = 18.5–24.9
overweight = 25–29.9
obese = BMI of 30 or greater
There are a few different ways to calculate BMI, but the most common way to do it is using English units: pounds and inches or Metric units: kilograms and meters.
If you use pounds and inches, multiply your weight in pounds by 703, then divide the result by your height in inches, and divide that result by your height in inches again. If you use metric units, multiply your weight in kilograms by 10,000, then divide the result by your height in centimetres, and divide that result by your height in centimetres again.
Can high BMI affect your expat health insurance premium?
Even if you don’t have any existing health conditions, being overweight or obese can still make it more difficult to find affordable coverage. You may be seen as less healthy (and therefore riskier) than those with a lower BMI.
While a high BMI may not automatically exclude you from having an international health insurance policy, it can put you at a disadvantage when it comes to policy pricing.
Depending on the insurer company, your premium may increase due to the loading imposed. It may be a fixed amount to your basic premium or a percentage. It may range from 20% to 50%.
If you’re worried about how your BMI might affect your premium, the best thing to do is to speak to us who specializes in this matter. We will be able to advise you on the best policy for your needs and help you find a cover that is both affordable and comprehensive.
Is it possible to revert loading on my premium when my BMI drops?
Yes, absolutely. We had a client who paid $1000 more for his insurance. We thought he will get very upset when he heard from us about the final premium amount. However, the opposite happened.
He was a little bit upset, but then he said: “Well, I understand that I`m at risk and I don`t like to pay so much more for my insurance. However, I will take it. I`ve got motivated to do finally something about my body and health”. As you see, his attitude was mixed
