18.1.5 Other Risk Factors
As we pointed out, the risk factors listed previously (physical condition, moral hazards, and occupation) are the primary factors taken into account when classifying risks. However, the underwriters don't stop there.
As with other insurance products we've already discussed, other factors must also be taken into consideration and evaluated.
What are the key factors evaluated in the health insurance underwriting process?
Health insurers, HMOs and other health plans are prohibited under Florida law from soliciting or using genetic information for any insurance purpose. They are also prohibited from placing any limitations on coverage or establishing different premium rates based on genetic information in the absence of a diagnosis of a condition related to genetic information.
What does genetic information or testing include?
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Section 18.1 ReviewThe most important key factors evaluated in the health insurance underwriting process are: |
2 |
In health insurance underwriting when classifying risk, the three most important factors are: |
3 |
Moral hazards are personal habits such as alcohol or drug use. |
4 |
If a change of occupation occurs without the company's knowledge and a claim is filed, the company cannot adjust the benefit amount. That is why it is important for agents to monitor client employment. |
5 |
Genetic information or testing always includes routine physical examinations. |
