New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Zimmer Biomet Holdings Employees: How Your Credit Score Influences Your Insurance Premiums

Healthcare Provider Update: Healthcare Provider for Zimmer Biomet Holdings: Zimmer Biomet Holdings operates primarily in the orthopedic medical device sector, manufacturing products for joint reconstruction, dental implants, and spine and trauma surgeries. The company's healthcare provisioning is centered around the distribution of these specialized medical devices to hospitals and surgical centers. Additionally, Zimmer Biomet may collaborate with healthcare providers for integrated services involving surgical procedures, rehabilitative care, and patient education. Potential Healthcare Cost Increases in 2026: As the healthcare landscape evolves, Zimmer Biomet Holdings, along with the broader market, faces significant challenges due to looming healthcare cost increases in 2026. Record premium hikes for Affordable Care Act (ACA) plans are anticipated, with some states seeing increases that may exceed 60%. This surge is attributed to a combination of rising medical costs, the expiration of enhanced federal subsidies, and aggressive rate hikes from major insurers, potentially leading to a staggering 75% rise in out-of-pocket premiums for many consumers. Such pressures not only impact affordability but also present strategic challenges for healthcare providers and companies like Zimmer Biomet navigating a complex market landscape. Click here to learn more

As an employee of Zimmer Biomet Holdings 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 Zimmer Biomet Holdings 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 Zimmer Biomet Holdings 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.