Health insurance and credit checking

[rkg2004]

Just wondering if anyone knows...

I'm aware that your auto and some other insurance rates can be based on your credit score, but is that the case if you try to buy health insurance also? This is true according to an article from the FICO score company, but it had other other inaccuracies in it so I have to doubt it.

Anyone have any experience with this?

[RichM]

I don't think BK has any effect at all on health insurance rates. There's not that much potential for fraud to make health insurers worry too much about it.

Yeah, you probably could hook up with a crooked doctor, bill the insurance company for nonexistent illnesses, and split the proceeds; but I think that's pretty rare compared to, for example, people arranging for their out-of-warranty cars to be "stolen," rather than paying for a new tranny.

I do know for a fact that I'm self-employed and pay for my own health insurance through a group plan for self-employed people. The rates for people in my group are the same across the board, differing only according to family size. My BK had no effect at all on my rates.

BK can, however, affect life, auto, and home insurance rates, unless prohibited by state law. For example, in New York, it's my understanding that an auto insurer can consider your credit history when determining your initial premium, but can't use it to raise your premium as long as you stay with the same company.

-Rich

[goodyphilips]

I think though it might not be a norm, but some insurance companies could consider credit score as a factor to grant you insurance, since it might reflect your capability to be able to pay your premiums on time or not.

[keepsmiling]

As if health insurance wasn't already expensive enough in NJ-- ack. When it got to be more than the mortgage we had to drop it.
Rich, may I ask thru which group you buy yours? We couldn't find any here in NJ to latch onto, maybe your info might apply.
I wound up going back to college to get some cheaply-- going to Kean, haven't actually gotten my card yet... looks like Rutgers has a better plan if that works for you. Even with tuition it's cheaper than buying on your own. Plus you get schooled, a free gym membership, and some other perks.