Insurance costs vary greatly. It’s rarely an apple-to-apple comparison, and it’s often changing. That makes for a challenging analysis from one insurance company to another. There are several factors, though, to take into account when determining how much you pay for insurance. Outlined here are three major factors.

First, your job status weighs heavily on your insurance cost. Whether you have an employer or are self-employed have the most significant impact. For instance, a self-employed individual is responsible for securing insurance on their own if they want coverage. The simplest way to find insurance that meets your criteria is through online coverage quotes. This can almost be a one-step process, or at least a one-stop shop. Numerous sites provide you with a survey to complete and provide an estimated quote based on your information. Insurance agents (virtual and live) are also excellent resources. Other individuals may choose private health insurance because their employer’s offerings are either too expensive or inadequate to their needs. An employer’s plan often has to do with the size of the company, as well as the occupation itself. The larger the employer, the cheaper it typically is. Risk of injury on the job due to the nature of responsibility can increase the cost as well. Researching online coverage quotes is a great starting point for comparing costs to your employer’s insurance and that of a private plan.

Another factor to consider with insurance rates is your demographics. Your age, where you live and your financial status play a big role. Say you’re over 65 and you have little or no income. Your insurance options are likely to be minimal in cost. On the other hand, if you don’t meet the requirements of little to no income or retirement age, older people have higher premiums for coverage because they have a higher incidence of claims. Also, sources claim that young adults pay more now than ever before. Individuals up to 26 can stay on a parent’s insurance under Obama’s health reform package. Over 26 and you’re stuck with a higher premium. Additionally, the more dependents covered under a plan, the more cost goes up.

The third factor insurance companies look at is your health history and lifestyle. This pertains primarily to individual insurance plans. Pre-existing conditions such as a long-term illness have a dramatic impact. The options will not only be pricier, but you may not even be eligible for insurance. Being diagnosed with heart disease and then finding an insurance carrier, may leave with little luck.

Do your homework when it comes to health insurance. Medical debt is the largest source of debt. Avoid it at all costs – literally. Find an insurance plan that works for you.