Copyright 2005 Keith Thompson
If you find yourself in the position of shopping for an individual
health insurance policy, there are certain things you'll want
to keep in mind. Whether you are coming out of a job that covered
you before, or are at the end of your COBRA benefits, or simply
have never had coverage before there are things you can do to
get coverage on yourself and your loved ones.
The basic thing to know is that if you have a shot a group health
insurance, whether through a job or an association you're a member
of, that is usually much more affordable than buying individual
health insurance on your own. First you need to figure out your
health insurance goals; in other words, what are you after? If
you're young, healthy as a horse, no dependents and not attempting
Mt. Everest next week, you may want to opt for a policy that covers
only the catastrophes, and cover the rest out-of-pocket. On the
flip side of that, if you're the sole bread winner with a family
to support, the scenario is different.
The basic choices you'll have are Fee-for-Service, Managed Care
Plans, and Association-based health insurance. Fee-for-service
is the traditional indemnity plan, harder to acquire, more expensive,
but usually great coverage. Managed care plans include most HMO's
and PPO's. These offer lower costs but your choices are somewhat
limited. Another way to get insured is through a group or association
you may already be a member of, such as professional, religious
or trade organizations. Often they may offer health insurance.
It's worth checking out, as sometimes you can strike gold in this
vein.
Things to consider when you're looking for
any policy are what's covered on this plan, how much are the monthly
premiums, what is the yearly out-of-pocket, what is the deductible,
how much are office visits, does it cover preventative medicine,
vision, dental? And I'm sure you can come up with many of your
own. Sit down before you go shopping and make a list of your needs
and wants, and decide in advance what you're willing to give to
get. Be aware that once you start getting quotes they can vary
as much as 50% for the same person! Remember, you're shopping,
and nobody's making you do anything. If one insurer isn't cutting
it, move on to another. If you're coming at this cold and have
no good recommendations it may be wise to use a broker who represents
several companies, as he or she wil be more likely to find the
best policy for you, as opposed to selling the company they work
for.
Shopping for individual health insurance can be frustrating and
time-consuming, but if you come armed with facts you'll be able
to navigate this highly competitive and ever-changing field.
About the author:
Keith Thompson is the webmaster at http://www.health-insurance.giftsforbiz.com,a
site geared toward helping you find great individual health insurance!
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