Individual Health Insurance Basics
With fewer individuals being eligible to receive health insurance through their employer, more and more people are turning to individual health insurance for their coverage. With health care costs constantly rising, and the cost of major medical procedures at an all time high, few people can afford to go without some type of health care coverage.
The most basic type of health insurance coverage available to an individual is Major Medical. This type of policy does not cover preventative care and usually doesn’t cover office visits, but instead provides coverage only for major medical expenses. Since coverage is limited, premiums are generally much lower than for traditional individual coverage. As such, for individuals that can’t afford full service coverage, this is a great option since it helps protect against those types of procedures that would be the most expensive for an uninsured individual.
Just as with group insurance plans, Preferred Provider Organization (PPO) and Health Maintenance Provider (HMO) plans are available to individuals. Your health insurance wants/needs and your budget will help determine which type of plan is right for you. (Please see one of our other articles for a thorough explanation of PPO’s & HMO’s).
Getting quotes online is a great way to begin searching for affordable individual health insurance. Comparison shopping is easy, and you can find objective, honest information on the specific types of plans to help you make an informed decision on which type of plan is best.
Health Insurance Resources
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