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Individual Health Insurance

If you are not fortunate enough to belong to a group insurance plan through your employer, your only option to ensure you are fully covered for medical care is to take out an individual health insurance plan.

These are usually the most expensive form of health insurance. If you have a history of poor health, expect to pay hefty monthly premiums. You will also have to undergo a physical examination and fill out a series of questionnaires to determine how healthy you are, which will have a direct impact upon the amount of your premium.

The good news is that many insurance firms offer individual health care plans and also short term plans for those people in between jobs. Before you take out an individual health insurance plan, you should ask yourself the following questions.

Do I make frequent trips to medical professionals or only go once or twice a year?

Have I been hospitalized for any condition in the last five years that could reoccur?

Do I play contact sports or have hobbies which could potentially endanger my health?

Am I likely to receive health insurance coverage through my existing employer or a new employer in the near future?

You also need to ask questions about the type of policies you find and research each one thoroughly.

How much does the monthly premium and/or deductible cost and what types of out of pocket expenses are associated with the plan?

What type of coverage am I getting for my money?

Do I want to insure myself for basic care or for added coverage such as dental and vision care?

Does an indemnity insurance plan or a managed care plan more closely fit my personal circumstances?

How much less will I be reimbursed if I access healthcare professionals outside the insurance company's network?

When you have an idea about the individual policy you require, shop around to find the most competitive rates. These will usually come in the form of managed care plans and will require to use the healthcare professionals in a specific network. If you want the freedom to choose which provider you use, you should expect to pay a higher monthly premium and higher out of pocket expenses.

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