If you are a smoker or tobacco user and you’ve ever applied for individual life insurance in the past, then you may already be familiar with just how much this habit can affect the premium rate that you are charged – and in some cases, smoking could even have an impact on whether or not you are approved for the coverage at all.
One key reason for this is because tobacco use is deemed to be the second leading cause of death around the world – and it is (either directly or indirectly) responsible for roughly one in every ten adult deaths each year.
In fact, according to the Centers for Disease Control and Prevention (CDC), smoking not only can lead to disease and/or disability, but it could result in harm to nearly every organ in the body.
Plus, in addition to just the physical costs of smoking, there are also far-reaching financial ramifications. For example, the CDC estimates that smoking-related illness in just the U.S. alone costs upwards of $300 billion each and every year. This includes almost $170 billion for direct medical care, and more than $156 billion in lost productivity due to both first- and second-hand smoke.
There is some good news, though, if you’re a Medicare enrollee and you have been trying to kick the habit. That’s because Medicare Part B may cover up to eight face-to-face counseling sessions (over a 12-month time period) – and as long as the provider you go to accepts Medicare as payment, these visits may be absolutely free to you.
Check out more by clicking the Medicare website regarding smoking cessation, and have a talk with your primary care provider.
Smoking & Tobacco Use. Centers for Disease Control and Prevention (CDC). https://www.cdc.gov/tobacco/data_statistics/fact_sheets/economics/econ_facts/index.htm