Premium Raters & Calculation
Understanding how group health insurance premiums are calculated to help you make informed decisions.
Key Premium Rating Factors
Several factors influence how insurers calculate group health insurance premiums. Understanding these can help you optimize your coverage costs.
Industry Type
Different industries have different risk profiles that affect premium calculations
Technology companies typically have lower premiums than manufacturing or construction companies due to lower risk of workplace injuries.
Demographics
Age distribution, gender ratio, and family size of employees impact premium rates
A younger workforce generally leads to lower premiums, while policies covering dependents will have higher rates.
Claims History
Past claims experience significantly influences future premium calculations
Companies with low claim ratios over the past 3 years often qualify for discounted premium rates.
Coverage Details
The extent of coverage, add-ons, and optional benefits affect the final premium
Enhanced coverage like maternity benefits, pre-existing disease coverage, or higher room rent limits will increase premiums.
Need a Precise Premium Estimate?
Our team can provide you with a detailed premium calculation based on your specific requirements.