💡 Why Do Health Insurance Premiums Increase? 💸

Ever gotten a renewal reminder and thought, “Oh no, my premium has increased again!” 🤯 You’re not alone. Let’s decode the reasons:

📊 Two Main Triggers for Premium Changes

1️⃣ Age Slabs 🎂
Most health insurance plans have age brackets, like 26-35, 36-45, and 46-50. When you move into a higher age group, your premium increases 📈. Some plans adjust premiums yearly, not just at new age slabs.

2️⃣ Medical Inflation 🏥💰
Medical costs rise every year, thanks to technological advancements and inflation. To keep up, insurers increase premiums and sometimes upgrade plans. These hikes usually occur every 3-4 years, but timing and amounts vary.

✨ Pro Tip

Next time you see a premium hike, don’t panic! It’s just the nature of how health insurance works. 😊 Stay informed and compare policies to ensure the best value for your needs.

🔒 Protect yourself now, save big later!