Buying Individual Health Insurance

Good health insurance is essential with today’s sky high medical costs. Discover how to get the best individual health insurance for your particular needs.

Welcome to our website. Our aim is to inform you of the many options and choices you have when buying individual health insurance, as well as providing online resources where you can source the best deals.

Buying health insurance online has now become standard practice because you can easily compare one insurance company to another and tailor the best deal for you. And as the internet is available 24hours a day, you can do your research at a time when it suits you. Also you don’t pay the commission fees that would normally be paid to a third party company.

Despite the term, ‘individual’ health insurance, it doesn’t have to be restricted to just one person. It can cover you, your spouse and your children. It is not tied to an employer’s cover and is purchased on the private market.

The amount of people looking into buying individual health insurance has become far more popular over recent years and is no longer confined to the self employed or unemployed.

These days, not all employers offer health insurance as standard and often the level of cover isn’t adequate for many people’s needs and they may have to increase their coverage through private means. The number of retirees is also increasing as the baby boom generation finish their working days but still need good health cover.

Over 15 millions Americans now have an individual health care policy and the number is growing.

This has lead to major insurance companies offering more flexible and affordable, individual health insurance. Now because of the wide choice of companies offering their services, it can become quite a task knowing what level of cover to take out and with whom. Pricing is also a huge factor in your decision and policies can differ between companies by as much as 50% for the same person.

The secret is to do your homework, which you can do in the privacy of your own home or office, decide on exactly the level of cover you need and shop around for the best coverage at the most reasonable price.

Different Types of Private Health Insurance Plans

Individual health insurance plans provide a wide range of medical coverage. Here are the most common types of policies:

HMO (Health Maintenance Organization). HMO’s are the most common and one of the most affordable health plans available, offering a comprehensive level of cover. HMO’s use a network of hospitals, doctors, clinics, specialists, and various other health care providers ensuring you’ll have convenient access to medical care when you need it.

PPO (Preferred Provider Organization). PPO’s is a more affordable individual health insurance plan with the added benefit of being able to access a health care provider anywhere in the country. That means you can see any doctor or specialist you want, and your plan will cover the care. This plan offers greater flexibility and security.

FFS (Fee For Service). The FFS plan is the traditional form of individual health insurance and offers the greatest flexibility. You simply pay for any treatment or care needed and then you claim a percentage of the costs back from the insurance company. As with the first 2, you pay a monthly premium.

Typically, the more choice and independence you want in choosing your own doctor and hospital, the more expensive the policy will be. When deciding upon what health plan is best for you and/or your family, you should compare health insurance quotes for each health plan type and shop around because the levels of cover and costs vary from company to company and between various plan types.

Buying Individual Health Insurance Online

Before searching for and comparing individual health care plans you need to prioritize what features are more important to you and/or your family. If you want to find your own doctor then you don’t need to look at HMO’s. However, if price is the most important factor when buying individual health insurance then the HMO option may very well be the best one. You will also need to take into account and have to hand details of your income and expenditure, to figure out a sensible budget.

After deciding upon the actual type of policy you need, you should then search the internet to look for plans and compare their cover side by side. Besides the price, you need to take into account other factors such as; prescription drug cost, certain hospital treatment, diseases etc.

Buying individual health insurance online is easy enough once you have all your details finalized. There are a dozens of companies providing online, individual health insurance such as; eHealthInsurance, American Family Insurance, Aetna, UniCare, Blue Cross Blue Shield and any sites listed above that may be useful.

Get plenty of quotes and do your comparisons. Use comparison type websites as well as approaching the company direct to find the best deal. Once you have found the one that ticks all your boxes, make sure you read the small print.

Conclusion

For many people, individual coverage just makes more sense or it may be the only option available. If you do your research and shop around, you can find a policy with low monthly premiums that suit your current lifestyle.

If you have any experience with buying health insurance or would like to comment on this article, please drop your comments here.