Individual Health Insurance Plans

Individual health insurance follows the same guidelines as group health insurance. You can choose between an indemnity plan and a managed care plan. Indemnity is more of a traditional insurance that lets you see any doctor you want and reimburses you for some or all of the costs. Managed care plans basically come in two forms: HMOs and PPOs. HMOs only allow you to go a few doctors of their choice. These doctors are prescreened and offer almost all varieties of medical coverage. HMOs have the least amount of choice, but offer the lowest premiums. PPOs are the combination of more traditional health insurance and HMOs.

What Are the Options?

Group insurance plans allow for more of a discount or other breaks on costs due to the fact that the insurance is offered to large groups of people. Individual health insurance lets you choose almost any option you want and the freedom of choice may be worth the somewhat higher cost or lack of “discounts” offered by large groups. If you are not covered by some sort of group health insurance then you are going to need to get individual health insurance or get no health insurance at all, which is not a good option at all. Should a problem arise it is important to know that you are covered that way you do not have the burden of taking on the medical payments all on your own.

Making the Right Choice

When one is making a choice to purchase health insurance it can be stressed how important it is to make sure that you and your family are covered should medical issues arise. The financial burden that comes along with not having health insurance is to overwhelming for anyone to handle, especially in a time where you or a loved one is injured. For those of you that don’t have the advantage of getting health coverage through work then it is a must that you seek alternate routes. Picking up an individual health insurance plan that is suited for your finances and gives you what you need is what you should be interested in. If you are not covered yet then now that you have gotten some useful information don’t hesitate to get an insurance plan that’s right for you.

Additional Resources:

• Can I Buy an Individual Policy
• Individual Policies: The Basics