If one of these situations fit your reality - recent graduate, newlywed, early retiree, between jobs or disastisfied individual health insurance plan holder - then taking the time to learn more about individual health insurance plans will be of great benefit.
Until recently, most people got their health insurance from their employer. People with low income either got their health insurance from the government or just went without any health insurance coverage at all. Nowadays, more and more people are buying private health insurance plans that are specifically made for individuals.
Choosing an individual health plan isn't only about getting the right coverage. It's also about figuring out the costs and working with a health plan that makes financial sense for your individual situation. Individual health insurance can actually be fairly affordable.
The four most common types are HMO, PPO, HSA and FFS.HMOs (Health Maintenance Organization) - HMOs are one of the most affordable health plans available that offer comprehensive coverage. Most HMO networks consist of thousands of health care professionals. PPOs(Preferred Provider Organization) are an affordable health plan with an added benefit - you'll have coverage with any health care provider. That means you can see any doctor or specialist you want. Health Savings Account (HSA) Plans consist of two parts: a high-deductible health plan and a Health Savings Account. The high-deductible plan provides catastrophic coverage and features low monthly premiums. The HSA is a tax-free savings account where you save money to pay routine medical expenses. Fee For Service (FFS) Plans are the traditional forms of health insurance. It works very simply - you pay upfront to get the health care you need, then you're reimbursed for a percentage of the cost.
Also, with an employer's plan, leaving your job means leaving your health insurance. Individual plans protect your health wherever your career takes you. Individual health insurance is meant for single individuals. These plans are the best health insurance opportunities for people who are self employed or work in small companies that either do not offer health plans to their employees or offer plan options that don't meet your needs. Just be sure to review all the options and costs for the plans you are considering. Selecting the best individual health plan for you takes some time, but it is worth it in the long run.
Discover more about individual health plans and how to choose affordable health plans in general.
