Individual Health Insurance

For more people, group health insurance is a superior option than individual health insurance. Group insurance usually costs less and provide more benefits.

  • A few people can not find group health insurance because they are self-employed, work for a miner company, have run out of COBRA benefits, or for some other reason. They must turn to individual health insurance plans – insurance they buy themselves.

    Several insurance companies present health insurance plans to individuals. However, if you are over 50 years old, there can be problems:

    • It might be harder to get a company that will buy you a health insurance policy, in particular if you have a dangerous medical problem.
    • You might have to find a medical exam to verify you are insurable, meaning you do not have a dangerous medical problem.
    • Individual insurance usually costs more than group insurance.
    • You might find fewer profits than with group insurance.

Compare Plans

The answers to the following questions can help you compare both the cost and the benefits of the plans you are considering:

  • How much of my doctor and hospital bills will this health insurance plan pay for?
  • How much will I have to pay each month (premium) for this plan?
  • How much will I have to pay (deductible) before the plan begins to pay?
  • How much will I have to pay for office visits to the doctor?
  • Does this plan pay for preventive health care? This includes routine medical checkups and shots, such as a flu shot, to prevent disease.
  • Does this plan cover visits to the eye doctor and the dentist?
  • Does this plan cover prescription drugs?
  • Is there a yearly or lifetime limit to how much the plan will pay for medical costs?

Individual Health Insurance Options

You have a more options when shopping for individual health insurance:

  • Fee-for-Service Insurance
  • Managed Care Plans
  • Open Enrollment in Managed Care Plans
  • Association-Based Health Insurance
  • High-Risk Pools