The Basics of Health Insurance Information

Never has it been more critical to be insured. With health care costs constantly rising and obesity and other illnesses on the incline, individual health insurance is key to keeping you and your family healthy and on budget. Individual health insurance is fast becoming the coverage of choice since you can lock in a good rate and it is portable, meaning that it isn’t contingent upon your being a part of a group like group health insurance.

There are many different types of individual health insurance to choose from and it can get pretty confusing when you are trying to understand all your options. Following are a few of the most popular policies you can choose from.

Types of Individual Health Insurance

Major Medical: A major medical insurance policy is exactly what the name states- a policy that covers only major medical expenses. This type of policy does not cover routine or preventative care and will only pay for certain major medical procedures. Generally, you will get benefits for hospital stays and surgeries. Since the policy limits what expenses it pays, you’ll generally have a less expensive premium than you would with traditional individual insurance.

Preferred Provider Organization: Often called a PPO, preferred provider organizations are health insurance policies that allow a little flexibility in terms of the doctors you visit for care. When you visit an in-network doctor, you get the full coverage of your policy. When you visit and out-of-network doctor, your policy will only pay part of your premium.

Health Maintenance Organizations: Referred to as HMO’s, health maintenance organizations are more restrictive than PPO’s. They pay no benefit when you visit a doctor outside the network.

High Deductible Health Insurance: With high deductible health insurance, you will have a lower monthly premium and higher out-of-pocket costs. You will be expected to pay out of pocket for all of your expenses until you reach the deductible limit. At that point, your insurance benefits kick in.
Getting Individual Health Insurance

There are many ways for you to get an individual health insurance policy.

1. Contact a local agent. Health insurance agents will have a wide network of companies they write business for. This means you have a resource that can find the perfect health insurance policy for you.

2. Shop online. There are many online resources to help you decide what type of insurance is right for your needs and budget. You can comparison shop and get more information on the benefits of each policy when shopping online.

3. Call an insurance company. Many insurance companies can set you up with a policy if you just call them. They will send out the application for coverage to you and you can complete it and send it back to them for underwriting.

4. Attend a local health fair. Many hospitals, churches and health organizations have annual health fairs. These fairs have free cholesterol and blood pressure screenings and also feature many vendor booths that insurance companies rent out. This can be a great opportunity to learn about their policies and apply for coverage.

5. Contact AARP, AAA and any other groups you are a part of. Many large groups like AARP offer incentivized discount insurance plans that you can’t get if you aren’t a member.

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When an individual is trying to determine what type of health insurance would be the most beneficial for his or her family, there are many options that must be considered. One of the most important aspects to contemplate is whether or not the individual’s employer offers a group health plan. If the employer does offer family heath insurance coverage, then the individual will have to determine whether to apply for employer provided family health coverage or whether to seek this coverage on their own. If the employer does not provide family health coverage, the individual will need to conduct research and determine which health insurance provider and what plan offered by the provider will most comprehensively meet the needs of his or her family.

Essentially, family health insurance is individual health insurance to which family members are added. Many employers offer individual health insurance plans to which employees that opt to receive health insurance through the group plan can add spouses and dependent children. The law states the insurance providers cannot exclude spouses or dependent children with pre-existing illnesses or conditions from group health plans. In many cases, employers will pay a percentage of the employee’s health insurance premiums. This helps make family insurance affordable for many individuals. However, if the individual loses his or her position within the company, the health insurance benefits will be terminated.

Individual health care plans are those purchased by individuals directly from a health insurance provider. These types of plans allow the individual to choose their insurance company, plan features, as well as their level of coverage. Many times, the coverage will not be as extensive as those offered by group plans, but if an individual has no other option then an individual plan can meet their health insurance needs. Most individual health care providers require more extensive medical checks than group insurance providers. Often, family members with pre-existing conditions will be denied coverage under an individual health care plan.

For individual looking for the best family health insurance rates and coverage for the loved ones, group health insurance plans will be the best option. These plans often provide the needed coverage at affordable rates. Obtaining health insurance this way is usually the least expensive option, as individual plans can be expensive. However, if a group plan through an employer is not possible, the individual will need to contact several health insurance providers for comparison quotes. When purchasing individual health insurance, it will be important to fully understand all of the terms associated with the policy.

Some of the information individuals may want to determine when researching health insurance is: what types of policies are available, what companies offer these policies, what the policy does and does not cover, and reimbursement procedures. Individuals will also want to ensure that the agent and the insurance company are reputable and are in good standing. Understanding how premiums can be paid, the effects of a higher or lower deductible, and the length of required waiting periods are important to purchasing the right insurance policy.

Premiums can often be paid in one lump sum. Individuals that can pay in one lump sum are often eligible for pre-payment discounts and expensive service fees may be avoided. The amount saved can vary by provider and plan. Individuals and their families that are healthy and require little medical attention may want to consider a higher deductible. Higher deductible health insurance policies generally have lower premiums than lower deductible policies. If group health insurance is not an option, researching these factors can help individuals obtain the best policy at a reasonable rate.

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With unemployment soaring and people in fear of losing their jobs or already having lost them the concern over how to find good affordable health insurance is a pressing question. Health insurance is one of those things you hope you never need, but you sure are glad you have it when you do. However, since it isn’t a constant necessity that you use all the time you don’t want to spend a fortune on it, and yet, most policies seem to cost just that—a fortune.

Remember the COBRA

If your job has, or in the case of a layoff, had employee health insurance coverage don’t forget that the government demands that they continue your coverage for a period of time at the group play rates. Be prepared for a little bit of ’sticker shock’ however. In the event that your employer paid a part of your premiums in order to keep the group rates lower your costs for the same insurance you had while you were an active employee will cost a little more. COBRA is not generally a cost effective or affordable health insurance; it is a safety net in case the unthinkable happens while you are searching for the best coverage.

The good news is that because of the current economy and so many people facing job losses the new stimulus bill made provisions to help with the cost of COBRA health insurance so make sure your costs reflect that. It is set up to pay up to 65% of the costs of the premiums in some cases. Unless your employer paid all of your premiums when you were working that should easily cover the costs of the shared end of your payment. COBRA is limited to a certain length of time, however, so do not put off looking for that affordable health insurance in the meantime.

Check Your Health Insurance Policy for Prescriptions

When searching for affordable health insurance make sure the policies include important items like prescription coverage. Even though it may be tempting to skimp on things like that in order to save money on the premiums the costs of prescription medicines are often so high they are prohibitive without it. What good is being able to go to the doctor or hospital if you can’t afford the cure?.

Health Insurance Online Quotes

The Internet is one of the best resources you have available to you when you are searching for affordable health insurance. It makes it possible to shop and compare all available options from the convenience of your home without pressure. There are many websites you can go to that will show you comparisons of all available policies according to your specifics such as how many people are in your family, what existing health problems you may have, your age, and other personal information.

Keep it in Check

Make sure that the policy you end up choosing has a cancel period. A ten day recession period gives anyone signing a contract time to ‘cool off’ and change their minds. This is helpful if you are feeling pressured with the need to get affordable health insurance and take a policy before you find one the next day even better and cheaper.

Affordable Health Insurance AND a Tax Break

Keep in mind that as expensive as even the most affordable health insurance can be when you are paying your own premiums you can declare it on your income tax return making it a large deduction.

Reputation is Worth a Lot

Make sure you are getting what you pay for. When you find a health insurance company you feel is in your ball park price wise and has the provisions you need in a policy check their reputation. Affordable health insurance is only a good thing if the company will actually be there to pay the bills when they come in. Sometimes skimping on cost instead of paying for the solid reputations of a bigger company can be a mistake. There are, however, very responsible smaller companies out there with excellent affordable health insurance. Just be sure to do your homework so you are not left in pain and in debt when the doctor bills come in.

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There’s an old term that states, “You get what you pay for.” This usually means that, for example, if you pay less for a lower-quality product or service, you’ll get an experience that is also of low quality, and vice-versa. When one usually hears the word “cheap,” a couple of things come to mind. Some people think “inexpensive,” while others think, “low quality.” Thankfully the health insurance offered by our providers here at Health Insurance Online is only of the former variety and none of the latter.

“Cheap health insurance,” is a term we use to describe the price you will pay for exceptional health care coverage by such respected names as Blue Cross, Blue Cross Blue Shield, and UniCare. This term is only used to denote the price of the health insurance coverage you can expect to receive from our providers, rather than the quality. There is nothing “cheap” about the exceptional health care coverage you will receive from any one of our providers. Take a look at our exceptional prices by going through our health insurance quotes.

The health care coverage provided by the companies here on Health Insurance Online is top notch, and will provide you and your family the high quality health insurance needed to achieve peace of mind. We believe that health insurance needs to be taken seriously, but that doesn’t mean making it difficult to find or to afford. This is why we partner with exceptional providers such as UniCare or Blue Cross. We want to provide you with affordable health insurance at reasonable rates.

So thinking “cheap health insurance” doesn’t necessarily mean low-quality or sub-par health insurance. In the case of the providers here at Health Insurance Online, it’s just the opposite. The providers that we have partnered with will provide you with exceptional health insurance coverage at affordable rates for you and your entire family. This means that while the health insurance we offer might be cheap in terms of the price you’ll pay, it’s anything but in terms of the quality you will receive.

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