Individual Health Insurance 101

Everyone knows that health insurance is a verywhatever doctor he or she desires.
important thing to have. However, some peopleManaged care plans, such as an HMO or a PPO,
don't know that there are alternatives to groupare very popular. Health insurance companies
health insurance. While group health insurancecontract with select doctors and hospitals in these
usually costs less and offers more benefits, sometypes of insurance plans. Therefore, policyholders
people cannot get it. People who areare limited to a select group of doctors and
self-employed or work for a small company havehospitals. Some plans, like PPOs, may allow the
the option to choose individual health insurance.policyholder to visit doctors outside of the
Individual health insurance is exactly what itnetwork, but it will cost more. People with this
sounds like; an individual buys health insurance forinsurance policy generally pay a very small
himself or herself.co-payment at a doctor visit. Some states have
It can sometimes be difficult to get individualrequirements in place that force managed care
health insurance (especially if you are over 50plans to have an "open enrollment" period each
years old). Many insurance companies may requireyear. The timeframe is usually a month, and
you to take a medical exam to determine if youmanaged care plans are required to let anyone
are insurable. For this reason it is important tojoin the plan even if they have a serious medical
look at many different insurance companies.condition.
Unfortunately, you may run into some companiesAssociation-based health insurance is acquired
that simply think you are too great of a risk.through a trade or professional association. If you
However, it is also a good idea to shop around forbelong to a professional, community, or religious
insurance policies because different companiesorganization, you may be eligible for their
give different benefits at different prices. You willinsurance policy. Naturally, you should learn more
be paying for the policy on your own, and so it isabout your group's insurance policy before signing
important to get the best deal for you and yourup.
family. A few things to consider when looking forHigh-risk pools can be sources of insurance for
a company are the amount and types ofpeople who have not been able to get other
payments you will have to make, the amount oftypes of insurance because of a serious medical
coverage you will receive, what exactly the plancondition. This type of insurance is seen as a last
covers, and if there are any limits to the plan.resort, and the policies regarding it vary from
There are a number of options available forstate to state.
individual health insurance. The options includeAlthough individual insurance plans cost more than
fee-for-service insurance, managed care plans,group insurance plans, it is still very important to
open enrollment in managed care plans,be covered. Researching different companies and
association-based health insurance, and high-riskdeciding which type of plan is right for you can
pools. Fee-for-service insurance, which can also behelp. Today, many people need hospital
called indemnity insurance, is a more traditionaltreatment, and those without insurance face
type of insurance. The insurance company will paymany difficulties. Even though it may cost a bit, in
for part of the cost of hospital stays and doctorthe end, if you have a serious medical problem,
visits, while the policyholder pays for the rest. Thisyou will be happy that you signed up for
type generally costs more than other insuranceinsurance.
types, but allows the policyholder to go to