Did you know that your credit score could affect your chances of getting cheap health insurance in the Commonwealth of Virginia? That's right. When figuring out how much a potential policyholder will pay for health insurance, many companies look at that person's credit score.
Be careful not to mix up your credit score and your credit history. They are similar, but not the same. Your credit history is a complete record of your financial past, including payments made, credit requested, credit received, foreclosures, and bankruptcies. Your credit score is a one-number summary of all the things in your credit history that affect it.
So why might your credit score make it harder for you to get cheap health insurance in the Commonwealth of Virginia?
Well, if you have bad credit, health insurance companies might charge you more for a policy than they would for someone with good credit. Large insurance companies may also make a list of health insurance companies that offer policies based on your credit score.
If you have no credit at all, i.e., you have no credit score, the health insurance company will treat you in one of two ways: as if you had a neutral credit score, or, specialize their underwriting policy for your health insurance policy based on the fact that you have no credit score.
Remember, a health insurance company can indeed refuse to offer you a health insurance policy - much less a low cost health insurance policy - in the Commonwealth of Virginia if they aren't pleased with your credit score. But they can't refuse to renew your health insurance just because of your credit score.
Check your credit score before you start looking for cheap health insurance in the Commonwealth of Virginia. This will give you an idea of what to expect.
