What You Can Get In An Individual Health Insurance Coverage?

If you think you are the only person who has no health insurance because your employer does not offer it or you are unemployed, well then think again. Last year, there have been an estimate 45 million Americans who did not have health insurance. This is according to the National Association of Health Underwriters. Yes it may be true that the health care legislation that passed in 2010 will eventually require coverage for everyone but it will not be effective not unless it will be the year 2014. In the meantime, you must purchase your own individual insurance coverage to provide for your health care needs.

Basically, a form of coverage that a person purchases independent of a group is what you mean by individual health insurance. This form of individual policy is best suited for those older unmarried adult, a self-employed person or an employee of a small business. Individual coverage may also be best for a young adult who is no longer eligible for coverage under their parents' plan.

More so, this individual health insurance can present to you a number of healthcare options. Most in demand are Health Maintenance Organization (HMO),  Preferred Provide Organization (PPO),  Health Savings Account (HSA) and a Fee-For-Service plan (FFS).  HMO, an affordable option to choose can basically provide acess to a specific network of healthcare providers. A more flexible way to handle your choice of healthcare providers is PPO. But this is more costly. HSA, meanwhile serves as a tax-free savings account that enables you to put money aside for medical expenses. In FFS, there will be traditional coverage offered in which you pay for health care costs upfront and the insurance company reimburses you.

The state regulations are the ones to control the marketing and selling of these individual health care policies. These types of insurance companies basically do not have a large pool to spread risk this is why the benefits are not as extensive compared to a group plan. To understand more, you can have an example. Imagine a substance abuse treatment that is often not part of an individual plan. Basically, most insurance companies can offer policy holders the option of purchasing a rider for additional coverage benefits. Most common forms of add-on coverage are maternity, prescription and vision coverage.

A licensed agent or broker may help you in buying individual insurance coverage. An independent brokeris the one in charged of finding the best health coverage for your needs. An independent broker would basically sell insurance for a number of companies and he has more access to a wider variety of plans. It is the jopb of the health insurance company to pay the broker on commission. This means you do not have to worry about paying the broker for services. You can search for all those agents who sell individual health insurance over the Internet for a hassle free and more convenient search.

There will be greater chances for you to be away from those one-size fits all approach of group plans when you opt for individual healthcare coverage. A a changing lifestyle or career can also be well coupled with this. This individual life insurance can be used anywhere. However if you live in Illinois, you can also get to know more about long term care insurance Illinois which is also a great thing to have.