Usually most people are accustomed to getting their healthcare coverage through their employer, or perhaps the government. But now, more and more people are turning to individual health insurance. The key to finding an affordable plan isn't as hard as you may think. HealthInsuranceUSA.com wants you to know as much as possible so you can make an informed decision about your individual health insurance choices.
Individual Health Insurance Plans versus Employee-Sponsored Plans
Individual health insurance policies extend coverage to one person or a family. Contrary to popular belief, individual health insurance does not mean you pay more for less. Most people elect to take buy group coverage because their employer pays at least 50% of the premiums each month. But there are some caveats to signing up for group coverage.
Individual health insurance provides the same coverage as group policies. But, group coverage is a one-size-fits-all deal even though your health needs may be far different than the person sitting next to you. With employee-sponsored plans, you have to pay for coverage you don't need or you may have to forgo something you do need. With individual health insurance you can pick a plan to fit your specific healthcare profile.
And, unless you're willing to pay for COBRA, leaving your job means losing your insurance. When you're on an individual health insurance plan, however, your coverage stays with you for as long as you can afford it. That means not having any gaps in coverage during a layoff or when you're in-between jobs.
How to Pick an Individual Health Insurance Plan
Which individual health insurance plan you choose to go with largely depends on your personal health needs, financial situation, and other personal circumstances.
Some things you may want to keep in mind are, that if you're in good health and don't go to the doctor very often, you may want to find something that will give you coverage just in case the unthinkable happens. You may want to consider an HSA (Health Savings Account) coupled with a high-deductible individual health insurance plan.
For those who seek more extensive services and/or are more prone to poor health, a Preferred Provider Organization
(PPO) or Health Maintenance Organization
(HMO) may be your best bet. These will typically carry a lower deductible and a higher premium. These types of individual health insurance plans also give you comprehensive major medical coverage.
Find the Right Fit to Your Individual Health Insurance Needs
If you start your own business, retire early, or work for an employer who doesn't offer group coverage, you're likely going to want to find affordable individual health insurance. In fact, it is a vital component to having a sound financial future. Unforeseen medical expenses such as hospital stays, major illness and injury, and the exorbitant costs associated with them can lead many people struggling to make ends meet and often can leads to bankruptcy. That's why it is vital you take some time to read through all the information HealthInsuranceUSA.com provides so you can make the best, most informed decision.