How health insurance premium prices vary based on gender

The cost of medical care varies between genders due to their unique needs and medical conditions. Therefore, health insurance premiums are determined based on risk and other factors such as age, pre-existing illnesses including gender. Yes, gender is one of the factors that determine the premium of health insurance plans. Want to know how health insurance premiums vary based on gender? Read ahead to find out.

Medical treatment or needs differ between men and women. As per a 2014 survey by ASSOCHAM India, about 42% of working women were found to be suffering from chronic, lifestyle, and acute ailments such as chronic backache, depression, obesity, hypertension, heart, kidney disease, high cholesterol, etc.

Men, women are more likely to seek medical insurance for coverage specific to their medical conditions, such as maternity cover for women, and stress-related illness cover for men. Some gender may require frequent doctor visits as compared to another gender. For example, women may need to frequently visit a doctor during maternity.

With women requiring to visit doctors and medical treatments, the chances of filing regular claims are higher than men, especially during childbearing age. As for men, the probability of falling ill during the latter part of their years is higher.

In other words, the medical expenses are based on the requirement of the gender and medical condition of the individual and thereby, impacting the health insurance cost.

While there is a difference in the premium for all genders, the difference is not significant. The premium depends on the type of health insurance plan that you choose. Health insurance plans are designed to meet different needs; therefore, several insurers customise plans to meet various needs.

Some insurers even curate health insurance plans that are gender-specific to meet the policyholder’s specific needs better.

The benefits and features of gender-based health insurance plans are designed to meet the custom health requirements of different people. Hence, many insurers have started offering women-centric health insurance policies to cater to their unique needs. A health insurance plan designed specifically for women will cover breast cancer, maternity, cervical cancer, etc. These coverages will be either built-in or will be offered as an add-on. 

Women can get the proper medical care during such situations without worrying about the medical cost for these specific medical needs. Likewise, some policies are specific for men with coverage for diabetes, stress-related medical conditions, hypertension, etc.

To sum up, health insurance premiums are not primarily determined by gender. Age, location, existing medical conditions, etc., are other important factors that affect the premium. The difference in premium amount based on gender is minimal and not significant. Apart from medical emergencies, you need to select the right health insurance plan that suits your requirement. If you foresee medical conditions that may require special care/attention, you need to choose a suitable plan based on your specific requirements.