Regal Rexnord Employees: How Your Credit Score Influences Your Insurance Premiums

Healthcare Provider Update: Healthcare Provider for Regal Rexnord: Regal Rexnord Corporation typically engages with a variety of healthcare providers for its employee health benefits. While specific healthcare providers can vary based on employee location and health plan selections, Regal Rexnord often collaborates with networks that include major insurers such as UnitedHealthcare, Anthem, and Cigna to offer comprehensive healthcare coverage for its employees. Healthcare Cost Increases in 2026: As 2026 approaches, Regal Rexnord, like many companies, may face significant increases in healthcare costs, primarily driven by anticipated hikes in ACA marketplace premiums. Reports indicate that some states are bracing for premium increases that could surpass 60%, largely due to factors such as rising medical costs, the expected end of enhanced federal premium subsidies, and aggressive rate adjustments by major insurers. This perfect storm of escalating costs could translate to a staggering increase in out-of-pocket healthcare expenses for consumers, impacting both employees and the overall budget for employers like Regal Rexnord. As a proactive measure, the company should consider strategies to mitigate these financial impacts for its workforce. Click here to learn more

As an employee of Regal Rexnord you may find it interesting to know, one landmark study found that credit-based insurance scores are used by about 95 percent of all auto and home insurers in calculating the cost of insurance to individuals.

While the vast majority of insurance companies use credit-based insurance scores to help determine the price of insurance, it is banned in the states of Massachusetts, Hawaii, and California. Some states only allow it as a factor for property insurance like auto and homeowners insurance. Other states allow it to be used with any type of insurance.

Several Factors

Generally, an insurance company will use a credit-based insurance score as just one factor in its underwriting process. We'd also like to remind our Regal Rexnord clients that other factors may be considered, depending on the type of insurance. For example, with auto insurance, other factors could include your zip code, the age of the drivers, the make, model and age of the car, and the number of miles you drive annually.

The use of credit scores to determine insurance rates is rooted in research that has shown individuals with lower credit scores had higher car insurance losses and higher claims payouts.

You can ask your insurance company if a credit-based insurance score was used to underwrite and rate your policy, and in which risk category you were placed.

For Regal Rexnord employees who want to improve their credit-based insurance score, you should consider taking the same steps you would to improve your credit rating: make timely debt payments, clear up past disputes and keep credit card balances low.

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1. Predictive Analytics: Achieving Greater Decision Accuracy, Better Risk Segmentation, and Greater Profitability, Fair Isaac Corporation, 2012 (most recent statistics available).