If you are seeking health insurance, there is a variety of options available. Individual health insurance is a private plan in which one person is covered. If this individual were part of a company health insurance plan, they would not have individual health insurance.
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Individual health insurance can be used for an elderly person who is in need of long-term care insurance or disability insurance. If this elderly individual is not on a Medicare or Medicaid plan with their spouse, it is easy for them to obtain individual health insurance for their status. Individual health insurance plans are also appropriate for recent college graduates that are no longer a part of their family’s health insurance plans if they are living in another state.
What are the options for individual health insurance plans?
A new option that is appealing to individuals who are shopping for health insurance tends to be the “catastrophic” health insurance plan, which is also known as the high deductible health plan. This insurance plan is great for individuals who are looking for reasonable insurance because these plans offer very low premium rates with a high deductible cost. If the individual has a clean medical record, they will most likely enjoy this plan because they will not have to pay much out of their pocket if they do not visit the doctor often.
These plans typically cover all of preventative care costs such as health counseling and cancer screenings, but it depends on the health insurance plan. Though other costs such x-rays, MRI’s and surgeries are only covered 100% after the deductible is met, preventative care costs are covered up front. According to the New England Journal of Medicine, the cost of health insurance is being controlled with new plans that are available, including plans that have preventative care covered fully.
Individuals who need health insurance may also set up a health savings plan that will allow them to save money for the injuries or medical issues that spark up out of nowhere. This savings account will allow the individual to be prepared for the worst without having to empty their pockets every time they need a procedure done.
Health maintenance organization (HMO) plans are another reliable option for individuals who want to reduce their health insurance costs. These plans have a lower premium and allow your primary care physician (PCP) to make decisions for the patient. Individuals with HMO plans need to receive a referral from their PCP before they see an outside specialist or second doctor.
What are some other tips for individual health insurance users?
Individuals on their own insurance plan have to watch out for the sneaky tricks that insurance companies may attempt. While an individual may set up their health insurance plan with set premium costs, they may have the option to pay their premium in one payment for six months or an entire year. If the individual decides to pay their premium monthly, depending on the insurance provider, they will send you a new insurance card every six months or the full year. When the insurance has been current for almost a year, the company will automatically renew the plan for the following year unless the individual tells them otherwise.
When an insurance company renews the insurance plan for the following year, they will give the individual an increase in the plan without reviewing it first with the individual. This may come as a big surprise to the customer. It is best to always review your monthly bills and keep track of renewal dates for your health insurance plan whether it is for an individual or family.
Is it easy to switch health insurance providers?
Yes. Sometimes it takes a trial and error approach to find the insurance that is perfect for a specific individual. Many times, the health insurance plan that is explained is not always the same as the one that you may receive. While a health insurance plan may seem like a good deal with a low premium, the network list for local doctors and hospitals may be very slim. Before starting a new plan, make sure to first review the list of included doctors and facilities.