Weight Loss on a Budget Tip #25: Save Money at the Doctor’s Office

Losing weight can help you achieve Tip #25: Saving Money at the Doctor’s Office.  “A person who is obese has annual medical costs $1,429 higher than someone of a normal weight, according to the CDC.” – Bankrate.com

• Losing weight can reduce your risk factors for things like diabetes, heart disease, high blood pressure, stroke and some cancers.
• Reduce medications for diseases for which symptoms are improved when you lose weight.
• Weight loss and getting healthy can help improve your immune system, thus helping you to stay our of the doctor’s office for common colds or infections.
• “$1,850 more per year in medical costs for an overweight person than for someone of healthy weight, among employees at the Mayo Clinic and their adult dependents. $3,086 more per year in medical costs for a Mayo worker with a body mass index (BMI) of 35 to 40. $5,530 more per year in medical costs for a Mayo worker with a BMI above 40. By comparison, smokers’ medical costs were only $1,274 a year higher than nonsmokers’, who generally die earlier.” – Reuters

A few weeks ago, I posted an article where I outlined how obesity could cause you to have higher interest rates.  Here is part of that article:

Why being overweight could now cost more to insure.

It is an accepted medical fact that being overweight can increase a person’s risk for disease and complications from other treatments to the point that it can be life threatening or develop into chronic conditions. Obesity is linked to asthma, type-2 diabetes, stroke risk, high blood pressure, cardiac issues and recently a direct link between being overweight and an increased risk of breast cancer has been found. For health insurers, this flags those who are overweight as high risks for coverage. Federal regulations prohibit insurers from denying or limiting coverage to those who are overweight by denying it qualification as a pre-existing condition, but they have put in options for health insurers to charge higher rates to the obese.

How much higher will my rates be if I am overweight?

According to the new federal regulations, you could be charged anywhere from 30 to 50% more for the same health insurance that someone who has a healthy BMI is paying. For employers, this will help defray the costs of the group insurance plans they help carry.  The many of the people with health issues that the new health mandates are supposed to be helping get affordable coverage may become stuck in the catch-22 of having to pay higher rates than before.