Individual Health Insurance: A Guide

2007-03-08 10:33:40

( Health )



If you find yourself suddenly leaving your company for whatever reason, you are also possibly leaving your health insurance behind. It would surprise you to know that the same coverage offered by your company with the same carrier is significantly expensive if you get individual health insurance. Individual health insurance is a necessity. You cannot predict illnesses or accidents. It is better to be prepared than to be caught unawares.

If you have been part of a group plan, you do not necessarily have to leave your health insurance behind. You have the option to continue it by paying the full premium plus some administrative fees. You also have the option to let it go and scout for different individual health coverage yourself. Your decision has to be made within sixty days after resigning from your company. That is enough time for you to weigh your options.

Pricing is the most confusing aspect of individual health coverage. It is worthwhile to shop around for the best rates. One insurance carrier can give you a quote that is very different from another. The rules and regulations of individual health insurance also vary from state to state. So you may want to check with your local agencies to clarify your options.

Do not let the confusing details prevent you from going without a health insurance policy individual or otherwise. After doing your research, you will have a clearer picture if you are going to stay with your current group plan but pay a higher premium, or if you are going to get an individual health policy.

You have to consider the various types of health insurance. Health insurance coverage can vary when it comes to coverage for prescription drugs, x-rays and other laboratory tests. You have to consider your budget, your physician preferences, your dependents and your health requirements when choosing the right plan for you.


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