|
| Individual Health Insurance |  Many people prefer group health insurance to individual health insurance, because group insurance usually costs less and offers more benefits.
Nevertheless, some people can't get group health insurance because they are self-employed. It means that they work for a small company, or work for yourself. These people must turn to individual health insurance plans – insurance they buy themselves.
Many insurers offer health insurance plans to individuals. But, if you are over 50 years old, there can be some problems:
- It might be quite difficult to find a company that will sell you a health insurance policy. It might be harder if you have a serious medical condition.
- In some cases a medical exam may be conducted to prove you are insurable. Insurance company wants to make sure that you don’t have any serious medical problem.
- Individual health insurance usually costs more than group insurance.
- Unfortunately, you might get fewer benefits than with group insurance.
There are several options when shopping around for individual health insurance:
- Free-for-Service Insurance
- Managed Care Plans
- Open Enrollment in Managed Care Plans
- Association-Based Health Insurance
- High-Risk Pools
Free-for-Service Insurance
This is a traditional kind of health insurance. It is also known as indemnity insurance. Free-for-service insurance covers a portion of your expenses for each your doctor visits or hospital stays and you have cover the rest of your expenses. You can choose any doctor or hospital you desire. However, you will pay a higher monthly cost for your medical care than if you were part of a managed care pan.
Managed Care Plans
Many people obtain health insurance through a managed care plan, like a health maintenance organization (HMO) or preferred provider organization (PPO).
In managed care plans, health insurance companies cooperate with certain doctors and hospitals that provide health care to its clients. Managed care plans allow you to see the doctors and hospitals that are part of the plan’s network. Some plans, like PPOs, allow you to visit other doctors and hospitals, but you have to pay more. As for HMOs, your visits to other doctors and hospitals are pre-paid by the plan. And you only have to pay a small co-payment, about $10 to $20, each time.
Open Enrollment in Managed Care Plans
Open enrollment usually is a one-month period during which managed care plans must let people join, even if they have ongoing, serious medical conditions. This is very helpful option for you if you have not been able to get health insurance because of your medical problem.
Association-Based Health Insurance
You can also obtain health insurance through a trade or professional association. Many professional, community, and religious organizations offer their members health insurance coverage at group rates. If you are a member of any trade or professional association, ask if it offers health insurance coverage.
High-Risk Pools
High-risk pools may be a source of health insurance for people who have not been able to obtain health insurance because of their serious medical problem. High-risk pools are some kind of the last resort, when all other attempts at obtaining health insurance haven't worked out.
|
|
