Tips On Buying Individual Plans

By Author: Marcus Stalder
Total Articles: 491
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The need for having own health insured through a plan is obvious for any person who has ever tried to receive care without having one. But in case you're self-employed or your employer doesn't offer any group plans the only choice you're left with is looking into individual insurance plans. The main problem with individual plans is that they are usually more costly than group plans so you'll have tot take your time and shop around in order to get affordable individual plan with all the coverage you need. On the other hand individual policies are much more flexible and you can tailor them to your actual health conditions. Besides, despite that the plan is called "individual" you can include your spouse and children to the plan too.

But getting an individual health plan could be a bit problematic, especially if you have certain health conditions you need to attend to. Insurance companies tend to get rather picky about pre-existing health conditions when reviewing individual plan individual plan submissions. Still, you have a higher chance getting these conditions covered under an individual plan than in case of an employer ...
... sponsored group plan. The only thing is that your premiums will be higher.

The general rule is that health insurance is more expensive for customers with serious health issues and who are older, and is cheaper for young and healthy buyers. However, the rates vary significantly from company to company, because each insurer has different claim statistics and methods of determining their rates. So no matter what age and health group you belong to shopping around for health insurance when getting individual plans is a must.

With individual plans there are also several things you have to consider in order to make the policy adequate both to your needs and budget. Try asking yourself the following questions and act according if you want the plan to be competitive and adequate:

Do I want to stay with my current family doctor?

This question can influence what type of individual plan is best for you. If you have good relations and are confident in your current family doctor and do not want to switch him, then a PPO plan will work for you just fine. Otherwise you may choose an HMO plan, which will require you to choose from in-network physicians only.

Do I need lower premiums with lots of out of pocket expenses or higher premiums with less additional costs?

Depending on your health insurance requirements you may choose from different options. If you pay your doctor visits frequently together with your family, it would be best to choose a managed care plan such as HMO with higher premiums but lower additional costs in order to save money on tests and doctor visits. However, if you're still young, single and with good health you may choose to purchase only catastrophic illness coverage and pay out of pocket for all the usual medical services that you're not using often.

How much coverage should I get?

It strongly depends on how often you go to receive health care and what particular services you're using. If you or any of your family members have specific health conditions such as asthma, diabetes or any other chronic conditions then getting more coverage would be better in order to assure that all the services are covered. Just analyze your needs and choose the respective amount.