Individual Health Insurance
Individual health insurance is an ideal option for you if you do not have access to coverage through your job. It provides coverage for you as an individual by yourself or including your family. There are different types on individual health insurance plans including, managed care plans, open enrollment in managed care plans, Fee-for-service insurance, high-risk pools, and association-based health insurance. Individual health insurance tends to be expensive and they offer fewer benefits than group insurance.
You can get these plans from any number of insurance companies; you will have to provide them with your personal information and medical history. The company will decide your suitability for coverage based on your health. If you do qualify, your premiums will be charged based on your income, medical history and age.
You should, based on your present and future needs, choose a plan that best fits and meets those needs. Look at the many options available and make a comparison of their coverage and cost. Also take into consideration your budget when making the decision. Buy what you can afford and what is right for you and/or your family.
You can find affordable individual health insurance by consulting your insurance agent or broker. Many such plans are available to you through an indemnity or managed care organization. You pay for all the health care cost upfront with an indemnity plan. You will be reimbursed once the company receives a doctors or hospital bill. With a managed care plan you make a co-payment when you use a medical service. The hospital or doctor will bill the insurance company for the balance. Health Maintenance Organizations (HMOs), Point of Service (POS) plans, and Preferred Provider Organizations (PPOs) are examples of managed care organizations. These organizations do not usually provide as comprehensive selection of health care professional and doctors as offered by indemnity plans.
Individual health insurance may seem expensive but not having health insurance is going to be even more expensive. If you do the research you will be able to find an affordable individual health insurance plan that is right for you. These plans make it possible for you to get health insurance for your entire family. Once you apply for an individual health insurance plan, there is usually a short wait although times may vary.
Apply to as many as you can to find a good rate.
If you are in the market for an individual health insurance policy, you have surely found that it is not as simple as it may seem. In fact it can seem like a very daunting task for someone with very little experience. Some people may even fore go the task because of their lack of knowledge. But this is not a good reason to not look for a good individual health insurance policy. You will be very sorry, you did not take the time to look for an acceptable health insurance policy, if something should happen to you or to your family.
The number of insurance companies is on the rise, so it is even more difficult to know which insurance companies are reliable and which are not. Not only that, but trying to understand the differences of one policy to another can be difficult.
The best thing to do is to avoid any unheard of companies, Check an insurance company out thoroughly and ask for opinions of friends and family. You can even look for opinions online if you need to. Make sure to check with the BBB to see if the company has any negative feedback from users.
Don’t enroll in a health insurance discount program unless you know what the drawbacks are, what is covered and what is not covered under the policy. That’s why it is so important to read the full health insurance policy before signing.
Some individual health insurance policies do not cover lab costs for instance, and as many as 80% of health insurance companies do not offer normal maternity health coverage, only some types.
Its amazing how many people sign a contract and don’t realize that the policy does not cover what they have a need for. Many companies write misleading content in their contracts, so be careful and read it thoroughly. Don’t get suckered by the insurance agency into buying any insurance policy. Remember he is only interested in the sale, after all that is how he makes his money.
An individual insurance policy is going to be pricey, there is no way to avoid it. There are certain things you can do to bring the price down, like choose a higher deductible. Choose a HMO policy instead of a PPO, but it is still going to be a little high, so be prepared. But also shop around, there are less expensive policies offered by reliable health insurance providers out there.