HSM420 Underwriting and Rating

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HSM420 Underwriting and Rating
Explain the difference between underwriting and rating. What are the key elements that typically go into rate…

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HSM420 Underwriting and Rating

HSM420 Underwriting and Rating

Discussions Week 6 All Students Posts 33 Pages

Explain the difference between underwriting and rating. What are the key elements that typically go into rate development formulas? I agree that underwriters must remain knowledgeable of all new laws.  This role involves continuous training.  What do you think is the most stressful about this job?  Do you think that it is difficult for the underwriter to keep emotion out of his/her decision?…

What can clients do if they do not agree with the underwriting findings? Do you think that lifestyle should be considered when determining the cost of coverage?  Within a workplace, should I have to pay the same amount as a smoker? With healthcare reform were changes made to the underwriting and rating process? Which health risk has the highest rating?

Which diagnosis can generate the highest premium? Does the Affordable Care Act look at health history to determine the rate the insured will be charged?  Are the premiums the same for everyone in a particular age group? If there are employees with pre existing conditions how does their rating affect others?  Should all employees have to pay for the choices of others?  Should I have to pay for a smoker?

Do you think that this type pricing determination is fair?  Is there a better way to rate patients? Some think that health status should not be a factor when determining rates.  I am not sure that I like the idea of health status not being a factor when determining rates.  Does this mean that non Affordable Healthcare plans will charge higher premiums to offset the plans within the Affordable Care Act?…