An individual health insurance plan is the best choice for someone that only wants insurance for themselves. This type of plan is also a good choice for someone that is self-employed as long as they have no other employees that they need to provide health insurance for.
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When choosing an individual health insurance plan it is important to know what factors affect your health insurance rates. Some factors that should be considered are lifestyle, preexisting conditions, the type of coverage needed, and budget restrictions.
How does lifestyle affect health insurance rates?
Things like marital status, whether or not the policyholder has children, and job status. Whether someone is married and has children, affects the type of health insurance policy they need based on if those family members also need insurance coverage. Most likely if the policyholder has children they will want to add them to their policy, but it is very likely that if their spouse is employed they have their own health insurance.
The job status of the policyholder is also a factor that should be considered. Whether someone is self-employed or just wants to buy extra coverage to make up for what their employer’s policy lacks are important things that determine just how much and what kind of coverage the person needs.
How do preexisting conditions affect health insurance rates?
Preexisting conditions are a major component that health insurance providers look at when determining, not only how much someone will pay for health insurance, but if they will be allowed to purchase a health insurance policy at all. Many health insurance providers will not accept a policyholder if they have certain preexisting conditions.
People with certain conditions like heart disease and diabetes know it might be difficult to find health insurance at a good price and that some companies will not take them at all. What some people might not know is that certain things that they might not consider a preexisting condition could keep them from getting the health insurance they need. The most common is being overweight. Most health insurance companies will not insure someone if they are a certain amount overweight.
Even if someone only has a history of certain conditions that no longer affects them it can still influence their ability to get health insurance at a fair price. Cancer is an example of this situation. Even if someone has been in remission from cancer for years, they still have to let their new health insurance provider of their history. If they do not and the health insurance provider finds out about it, they can cancel the policy.
Since many health insurance providers do not like to take the risk of insuring a person with a history of cancer, it can be hard for a cancer survivor to find a new health insurance company. Websites like http://www.cancer.gov can help a cancer survivor with this issue.
How does type of coverage needed affect the health insurance plan a person chooses?
Knowing the type of coverage they need is probably the most important thing a person has to consider when choosing a health insurance provider. Most health insurance providers divide their coverage into individual plans and business plans. If the person chooses an individual plan, they will then have to choose a plan that is just for them or will include family members.
Some common types of individual health insurance plans are co-pay plans, health savings accounts, 100% after deductible plans, and short-term medical plans. Short-term medical plans are a great choice for someone that is in between jobs or has retired early and just needs coverage until they are eligible for Medicare.
A health savings account helps the policyholder save money for future medical costs. These accounts help to pay for the policyholder’s medical costs if their deductible has yet to be reached for the year.
A co-pay health insurance plan is the type of health insurance plan in which most people are familiar with. This is the type of health insurance policy is so familiar to people because it is very similar to the health insurance provided by employers. This type of coverage charges a small co-pay for visits to the doctor and covers costs as long as the policyholder goes to a doctor in that plan’s network.
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