2007-03-24 17:23:50 · 5 answers · asked by Sir Gerrald 1 in Business & Finance ➔ Insurance
Employers can certainly set rates based on your age. They will contract with an insurance company for health insurance. Based on the mix by age and sex there will be a total premium. The employer can then decide how much of the premium he wants to pay - if he decides to pay 75% of the premium, he can pay so that the amount the employees each pay is the same dollars, or have it vary by age. And when there's additional coverage (especially when he makes them available but doesn't contribute) you're more likely to see rates that increase by age.
2007-03-24 17:45:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No. What they CAN do, is say, ok, we're paying $200 a month for everyone's health insurance, they have to pay the balance. Then the HEALTH insurance company says, ok, if you're under 30, the insurance is $200 a month. If you're 30-40, it's $250, if you're 40-50, it's $300. Spouses/family plans are $300 extra.
Then you have to pay the excess. But that's not the same as the employer charging you based on your age.
2007-03-25 01:44:35 · answer #2 · answered by Anonymous 7 · 0⤊ 1⤋
It's not the employer who sets the price of the insurance, but the insurance company. The employer can set how much your contribution is if they pick up part of the tab.
Your price for insurance often varies by where you live - if you don't live in the same area as your coworkers, you might be charged more or less. In New York, it goes by county.
2007-03-25 01:23:39 · answer #3 · answered by zippythejessi 7 · 0⤊ 1⤋
As the above poster said it's not the employer that sets the rates it's the insurance company and yes premium can be age based.
2007-03-24 17:31:39 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Employers dont set the rates for insurance. Insurance companies do. And yes, they base rates on sex, age & health.
Get used to it, it only gets worse as you get older.
2007-03-24 17:28:35 · answer #5 · answered by Gem 7 · 0⤊ 0⤋