Individual Health Insurance


by Travis Waack - Date: 2007-01-21 - Word Count: 566 Share This!

If your employer does not offer group insurance, or if the insurance offered is very limited, you can buy an individual policy. You can get fee-for-service, HMO, or PPO protection. But you should compare your options and shop carefully because coverage and costs vary from company to company. Individual health insurance plans typically do not offer benefits as broad as those in group plans.If you get a noncancelable policy (also called a guaranteed renewable policy), then you will receive individual health insurance under that policy as long as you keep paying the monthly premium. The insurance company can raise the cost, but cannot cancel your coverage. Many companies now offer a conditionally renewable policy. This means that the insurance company can cancel all policies like yours, not just yours. This protects you from being singled out. But it doesn't protect you from losing your individual health insurance.Before you buy any individual health insurance policy, make sure you know what it will pay for…and what it won't. To find out about individual health insurance plans, you can speak to us directly or send an email from our about page.

Tips When Shopping For Individual Health Insurance:

* Shop carefully. Policies differ widely in coverage and cost. Compare different insurance companies via an independent broker. Be sure to ask your agent to show you policies from several insurers so you can compare them.

* Make sure the policy protects you from large medical costs.

* Read and understand the policy. Make sure it provides the kind of coverage that's right for you. You don't want unpleasant surprises when you're sick or in the hospital.

* Check to see that the policy states: the date that the policy will begin paying (some have a waiting period before coverage begins), and what is covered or excluded from coverage.

* It is a Federal law that you have a " 10 day free look". This means that you get at least 10 days to look over your policy after you receive it. If you decide it is not for you, you can return it and have your premium refunded.

* Beware of single disease insurance policies. There are some polices that offer protection for only one disease, such as cancer.

There are many different types of individual health insurance. Each one has pros and cons. There is no single "best" plan. The health plan that's right for a single person may not be best for a family with small children. And a plan that works for one family may not be right for another.

Choosing an individual health insurance plan is not unlike making any other major purchase: You pick the individual health plan that meets your needs and your budget. For most people, this means deciding which plan is worth the cost. As an example, plans that allow you the most choices in doctors and hospitals also tend to cost more than plans that limit choices. Plans that help to manage the care you receive usually cost you less, but you give up some freedom of choice.

Cost isn't the only thing to consider when buying individual health insurance. You also need to consider what benefits are covered. You need to compare plans carefully for both cost and coverage.

Ideally, you should deal with an independent insurance broker. An independent broker will assist in finding you coverage from several different insurance carriers. The more choices the better it works out for you.


Related Tags: health, insurance, individual

Travis Waack is a licensed Independent Insurance Agent and Webmaster. Find online health insurance quotes, news, information and feedback at www.greathealthinsurance.com

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