Individual Health Insurance Options
For individuals who do not have access to health insurance through an employer, finding affordable coverage can be a challenge. In addition to paying higher premiums, it may be harder to obtain coverage due to health factors such as pre-existing medical conditions.
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COBRA
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If you worked for an employer that offered health insurance and you lost your job or left on your own, you may be able to continue coverage under the Consolidated Omnibus Budget Reconciliation Act. Under COBRA, the insured is allowed to continue coverage for up to 18 months (36 months for family coverage) as long as premium payments continue to be made. However, the insured must now pay the entire premium.
Broker
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A health insurance broker represents several insurance companies in a local area. Brokers can shop around with the different companies to find the most affordable coverage. Since they are familiar with your area and work with different insurance companies on a regular basis, they can also recommend a company that is reputable and pays claims in a timely manner. To find a broker in your locale, click on the link in Resources.
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Associations
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If you are self-employed, you may be able to obtain coverage through an association that provides health insurance for its members. For example, a carpenter may be able to obtain coverage through a builders association, while a freelance journalist could possibly pick up health insurance from a writers union. The local chamber of commerce may be another option.
Form a Group
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If you own a small business, depending on your state of residence you may be able to form a small group and obtain coverage at group rates as opposed to more expensive individual rates. Coverage may also be able to be obtained more easily as a member of a group instead of individually. In some states, as few as two employees are needed to start a group health insurance plan.
Temporary Coverage
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For those who are between jobs and are not eligible for COBRA, temporary health insurance plans could be an option. In most cases, these plans are designed to provide coverage in the event of emergencies and will not include doctor visits, prescription drug coverage, or preventive care. Policies typically cover periods of up to six months.
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