Affordable Individual Health Insurance
Affordable Individual Health Insurance
Individual Health Insurance can be defined as a health plan for not only one person, but their spouse and children as well. It can also be known as private health insurance or personal health insurance, but that is not nearly as common. If your employer does not offer health benefits, you would want to invest in this to cover your family. We offer free access to multiple online quotes from large insurance companies like Blue Cross and Blue Shield, for everyone from South Florida to Central Ohio. Our hope is to find the perfect health plan policy for your entire family at the most affordable rate.
What is the difference between Group Insurance and Individual Insurance?
While Group Insurance is often provided by an employer, if you are self-employed or unemployed you’ll need an alternate way to have you and your family covered. But that isn’t the only difference—Individual health insurance has higher premiums (premiums are expenses paid to keep a plan in effect) because now you’re paying for the entire plan yourself, and not through the group rate you get as an employee. Also, insurance clients with pre-existing conditions may require a large amount of expense in the future, so Individual Health Insurance plans may not cover any pre-existing conditions because it puts you at a higher risk, giving the company a right to decline.
Some advantages of Individual Health Insurance, though, is that you can customize you’re health insurance to be what you need. Employer-provided health insurance normally comes in a one-size-fits-all package. There’s a possibility that you could be paying for something you don’t need, or that you may not be covered for what you do need. Not to mention, if you leave your job you’ll lose all employer-provided health insurance, but individual health insurance keeps you covered no matter where your life takes you.
What are the types of Individual Health Insurance that I can pick from?
HMO – Health Maintenance Organizations are one of the more affordable plans available in health care. They create something that is called a network, which are specific doctors and hospitals, and other care providers that have agreed to offer discounted prices to anyone using a specific health insurance. As long as you use the health care providers provided in the contract the insurance will take care of most of the health bills—but if you go outside of the network you’ll have to pay the entire bill. Often in HMO plans there’s something called copayments, which are dollar-amounts that you’ll have to pay when given a medical bill before the plan covers the rest, sort of like your deductable. HMO copayments can be as low as 10 dollars, and normally don’t go that high.
PPO – Preferred Provider Organizations are fairly affordable plans that have networks. This means that the health insurance will help to cover health costs for any health care provider, that has a contract with the insurance company. PPOs are a lot more flexible than HMOs. PPO plans also have copayments, but they’re often a little more expensive. This is a good type to pick if you have good health and only need coverage for something catastrophic, or if your doctor is already part of the insurance companies health care provider network..
Health Savings Account (HAS) Plans – HAS Plans are composed of two part: a health saving account, and a high-deductible plan (a deductible is the amount someone has to pay before their health insurer takes over). The health saving account is where you can save your money for the routine medical expenses using a tax-free savings account, while the high-deductable plan has very low monthly premiums but can cover tragic accidents completely.
Free For Service (FFS) Plans – FFS Plans are your traditional individual health insurance plans. You’re taken care of for a percentage of the medical costs, but given the care needed. It’s rather simple.
Finding the right affordable individual health insurance is comparable to shopping for clothes. When you go shopping for new clothes, you already have an idea of what types of clothes you want, and how much you’re willing to spend. If you buy the cheapest jeans, they’ll most likely fade out and rip quicker than the more expensive one: you pay for what you get, so the lowest cost isn’t always best. Once you’ve picked a few possibilities, you’ll go to try them on and find the best fit. With insurance you consider the types of plans, what you need, and what you can spend on your plan until you find that perfect plan.
© Copyright 2009 Affordablehealthinsruancez.com
ZIP Code >
Affordable Health insurance for Individuals