I was wondering if this was covered somewhere.
In F3 and NV companions HP were increased also as you increased the difficulty level, which was in my opinion a bug or at least very bad idea.
As I like the challenge and I mostly play on hardest difficulty, this "feature" just forced me to not use any companions because the game was getting very easy.
I hope that this was addressed in F4 and that they won't be doing the same mistake again.