If you’re shopping for individual health insurance, you may be wondering how it works and what kind of coverage is available. Finding the right health insurance plan can be a complicated process, particularly if you’re unfamiliar with the ins and outs of individual policies. 

In this guide, we’ll examine the basics of individual health insurance plans to help make your search easier. We’ll cover topics such as premiums, deductibles, co-pays and out-of-pocket costs so that you can make an informed decision about which coverage best meets your needs.

What is individual health insurance?

Individual health insurance is a type of health coverage that you purchase directly from an insurance company, rather than through an employer. This allows you to choose the plan and coverage that best suits your needs without worrying about what your employer offers. Individual health plans typically have higher premiums than group plans; however, they also tend to provide more flexibility in terms of coverage.

What types of coverage can I get with individual health insurance? 

Individual health plans typically cover doctor visits, hospital stays, preventive care, prescriptions, and other medical services. Most plans also offer optional add-on benefits such as vision and dental care. Additionally, many individual health plans include coverage for mental health services as well as maternity care. 

What are the different types of individual health insurance plans? 

Individual health plans can generally be divided into two categories: managed care and indemnity. Managed care plans, such as HMOs (Health Maintenance Organizations) and PPOs (Preferred Provider Organizations), offer a more comprehensive coverage with a wide network of healthcare providers. Indemnity plans, on the other hand, offer greater flexibility but come with higher out-of-pocket costs and may require you to pay up front for services. 

What are the benefits of individual health insurance? 

Individual health insurance provides you with more flexibility and control over your coverage than employer-sponsored plans. You can choose the type of coverage that best meets your needs, as well as a premium and deductible that fit into your budget. Additionally, you can often add on supplemental coverage if needed. 

Who is eligible for individual health insurance?

Individual health insurance is available to anyone who meets the requirements of their state’s insurance regulations. Generally, this includes individuals and families who are self-employed or do not obtain coverage through an employer. 

How much does individual health insurance cost?

The cost of individual health insurance varies depending on the type of coverage you choose, your age, and the state you live in. Generally speaking, premiums are lower for those who are young and healthy and higher for those who require more coverage or have pre-existing conditions. It is important to compare plans carefully to find the right coverage at a price you can afford. 

Common individual health insurance terms to know:

Premium: This is the amount you pay to your insurance company each month in exchange for coverage. 

Deductible: This is the amount of money you must pay out-of-pocket before your insurance plan begins to cover expenses. 

Coinsurance: After you have met your deductible, coinsurance may be required. This is an amount that you are responsible for paying, usually a percentage of the total cost of care. 

Out-of-Pocket Maximum: This is the maximum amount that you will be responsible for in any given year before your insurance plan begins to cover expenses. 

Network: A network is a group of healthcare providers that your insurance plan covers. 

Copayment: This is a fixed amount that you are responsible for paying in order to receive certain services, such as doctor visits or prescriptions. 

Are you ready to find the best individual health insurance for your needs? You need to speak to a professional that can help you make the right choice for your family and budget. Deborah Hilgerman can guide you through the options and find the best solution for you. Offering many insurance products as well as long-term care insurance, Deborah is your one-stop shop for all of your insurance needs. Get answers to your questions right now, contact her today to learn more! There is never a cost to get the answers – 805-301-9960 or request a quote by clicking here.

Hilgerman Insurance Solutions of Camarillo is an independent insurance agency that specializes in the senior market, while offering health insurance solutions for small businesses and individuals. We are contracted with most of the top insurance providers to offer you plans that best suit your needs, all with personal hands-on service and support. 

Our commitment is to provide expertise, friendly service along with a timely response. Please feel free to contact us today for a quote and/or no cost consultation.   

Hilgerman Insurance Solutions
(805) 279-5482
deb@hilgermanins.com  
www.hilgermanins.com