Individual Health Insurance Policies: Covering Yourself

2007-03-08 10:33:40

( Health )



FOR THE DIFFERENTLY EMPLOYED

Individual health insurance policies refer to health coverage purchased by an individual for himself. Usually health insurance comes in the form of group, job-based coverage, where companies take on health insurance policies for all of their workers. Your health insurance commonly comes from your employee as part of your benefits and compensation package.

Individual health insurance policies are for those of us who chose to run our own business, work on a free-lance basis, work for a very small business, or simply do not work at all, but would still want to have individual health coverage.

GROUP VS. INDIVIDUAL

Given the nature of individual health coverage, there might be some difficulties in getting one with full benefits. This is particularly true if you are over fifty year’s old or if you have a pre-existing medical condition. You can still get one, but with significant restrictions on the benefits that you can claim.

Moreover, the premiums for individual health insurance policies are much higher and the benefits are less compared with a job-based health insurance. In an individual health care plan, you actually have to pay more money for less health coverage.

The truth is that group insurance for regular employees have better packages because they are big corporate accounts. Of course it stands to reason that insurance companies are willing to make some concessions just to be the health insurance provider of big companies.

If you need to buy an individual health care, do not fret. More and more insurance companies are recognizing the huge potential of the market for individual health insurance policies. There are companies offering reasonable premiums for more-than-adequate individual health coverage.

Medical emergencies can happen to anyone, anytime. That is why having health insurance is very important; this ensures that you have means to pay for treatment and hospitalization should it happen to you.


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