Obesity Is Not Just Bad For Your Health, It Can Also Drive Up Your Health Insurance Premiums

How Premiums Are Affected Specific body mass index (BMI) thresholds can affect both the customer’s eligibility for coverage and the premium rates. Each insurance company uses its underwriting guidelines to determine these thresholds. If the customer’s BMI falls above a certain level, they may be charged a higher premium, and, in extreme cases, either have restricted coverage or the insurer may decline coverage altogether.While BMI can significantly impact insurance premiums, the exact increase depends on the insurer and the type of policy being considered. For example, individuals with a BMI of 25 may not warrant a loading charge from insurers. “Those who have a BMI between 25 to 29, may face a loading fee of 10 per cent to 20 per cent based on the insurer or an insurance product,” says Singh.Generally, insurance companies increase the premium at a member level for the individual with a higher BMI instead of a generic loading for the entire family premium. “For example – for a family of four if a member is obese can increase the premium by 20-40 per cent every year,” says Singh.

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