Buying Individual Health Insurance

Individual health insurance has been getting more and more popular over the last several years.

Not so long ago, individual health plans were something only self-employed people bought. Almost everybody expected to get health coverage through their job. But times have changed.

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Fewer and fewer companies are offering their employees coverage, so more people are insuring themselves. And the major health insurance carriers have stepped up to offer people more flexible and affordable individual health coverage. Even some people who are getting insurance through their job choose to get an additional individual policy, just because their employer’s plan doesn’t offer enough coverage.

There are currently more than 13 million Americans covered through an individual policy. And that number is growing.

Kinds Of Health Policies

There are many kinds of policies available. These are some of the most common.

• PPO plans — Preferred Provider Organization — are a good choice for many people. A kind of managed care plan, they offer savings when you use a doctor or hospital within the organization’s “network.” But if you have to get care from someone outside the network, you’ll still get some coverage.
• HMO plans — Health Maintenance Organization — are another form of managed care, and offer even more savings. But the tradeoff comes in the form of less flexibility. In an HMO plan, you have to get your care from providers within the network. But HMOs are usually cheaper, and often have no deductible.
• POS plans — Point of Service — are a combination of traditional coverage and managed care. They give you the savings of an HMO, but are less strict about using outside providers. Many people in POS plans see their Primary Care Physician for their routine care, and then see the specialist of their choice when they need treatment for a specific ailment.
• FFS plans — Fee For Service — used to be more common than they are today. FFS plans are based on the traditional “Indemnity” model of insurance. You paid for your own care, then filed a claim with your insurance company to get reimbursed.

The Advantages Of Individual Health

Many people think individual policies are a poor alternative to employer coverage. But they actually offer several advantages.

• Coverage tailored for you. When you’re just covered through your employer, you get put into a “one-size-fits-all” policy. You end up paying for benefits you don’t need — and may not get coverage for benefits you do need.
• Coverage you can take with you. Leave your job, and that’s it for your coverage. But an individual health policy goes with you no matter where your career takes you.
• You’re only responsible for your own health. When you’re covered by a large policy at work, your premiums are priced to cover the health of everyone on the policy. Your employer might pay the entire premium, but that money has to come from somewhere. And that usually means lower wages and other reduced benefits. Your individual plan means you only need to worry about the costs of your own healthcare.

For many people, individual coverage just makes more sense. And if you shop smart, you can find a policy with low monthly premiums. The best way to shop is to get offers from multiple agents, and see who has the most competitive offer.

Our free service will match you with agents in your area. All you have to do is fill out a short form. When you’re ready to explore your insurance options, request your free health insurance quotes.