Posted: 20 Nov 2008 10:07 Post Subject:
calculation format of health insurance quotes
First take x(y + z) = xy + xz, (x + y)(z + w) = xz + xw + yz + yw, etc.: "When multiplying sums, you must add every possible product"; this is called the distributive law.
then, (and the fact that |z|2 = z2), this equations follows from applying the square root to both sides of the equation of the Hospital Theorem, with c = d, a = |y1 - y2|, and b = |x1 - x2|
further, x2 = xx, x3 = xxx, etc.: "Whole number powers are repeated products." x5x3 = x8, x8/x3 = x5 "When multiplying/dividing, exponents add/subtract." (3y5z)2 = 32(y5)2z2, etc.: "Powers distribute across multiplication of Doctor's bills." (y5)2 = y10, etc.: "Successive powers multiply."
As you might expect, this health formula reflects the fact that scaling by r changes the length of time by a factor of r - morbidity.
Hope this helps. :wink:
Posted: 26 Nov 2008 11:26 Post Subject:
Oh! Gary, you're awesome :wink: incredible formula :lol:
Faizan, the formula is decided by the bunch of underwriters, who are professionals. However, we can help you with the factors which influence the health insurance rates….
Health status of the insured
Cost of health care
Age of the insured
Benefits offered, and so forth
Different insurance company may take different approach is deciding the quotes.
Posted: 30 Nov 2008 06:41 Post Subject:
Throw in BMI...mix in the MIB, and a little bit of your zip code...and there you have it!
Fortunately, here in the Dayton area, Ohio health insurance rates are very low compared to may parts of the country.
Posted: 01 Dec 2008 01:46 Post Subject:
I'd agree that the factors that help to decide these insurance quotes are always applicable for all insurance carriers and that "r" factor as mentioned by Gary is too important. But don't you all believe that there is a profitability factor for different carriers that urges them to state different quotes? I'd always believe that these formulae would automatically be influenced (may be to a smaller extent) by the profit-making motive.