Individual Health Insurance

Document Sample
Individual Health Insurance Powered By Docstoc
					                              Individual Health Insurance

Health insurance is a type of insurance where the insurer pays for the medical expenses of the
insured when the insured becomes sick due to illness or injury. Today, there are several types of
health insurance to choose from. Individual health insurance, group health, worker?s
compensation, and government health plans such as Medicare and Medicaid are some of the
different types of health insurance plans.

Individual health insurance plays a significant role in the health care system of the United States.
It is an ideal option for people who do not have access to job-based coverage. Of the different
types of health insurance, individual health insurance provides coverage for an individual or to
an individual and their family.

Fee-for-service insurance, managed care plans, open enrollment in managed care plans,
association-based health insurance, and high-risk pools are some of the different individual
health insurance options available in the market. Compared to group health insurance, individual
health insurance is highly expensive. Benefits of individual health insurance are fewer than
group insurance.

Individual health insurance plans can be obtained directly from insurance companies. The
insurance company to whom you apply will ask you to provide personal information, including
your medical history. Based on your health status, the company determines whether you qualify
for an individual health insurance plan or not. Once you are qualified, a premium is charged
based on your age, income, and medical history.

Choosing an individual health insurance plan is an important decision. You must choose a plan
that meets your needs as well as budget. Prior to buying individual health insurance coverage it
is necessary to consider several options. It is very essential to compare the coverage and cost of
insurance plan as it may vary from company to company. Also, make sure that the selected
insurance plan provides the kind of coverage that's right for you.

Shared By: