How to Shop for Individual Health Insurance
Individual health insurance plans are typically secured by a person who is not eligible for group insurance coverage. Group insurance coverage is typically offered by an employer for an entire firm. For individual health insurance, the person will likely be self-employed or work for a company that does not offer health coverage. Individual health insurance coverage is for the single person who does not need to have other family members on the plan.
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Instructions
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Look for a state-licensed agent or broker who sells individual health insurance plans. The agent will sell individual insurance policies from several different companies, which will give you the opportunity to compare multiple plans. The agents are paid by the insurance companies, so you will not have to incur this expense.
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Contact the agent to receive quotes on an individual health insurance policy. You can receive contact information for local agents through the consumer page on the National Association of Health Underwriters website (see Resources).
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Compare the premiums for each type of individual health insurance plan. You will likely be presented with a quote from each company on its PPO, HMO and indemnity policies. With a PPO plan, you will need to see a physician in the health insurance network for full coverage. HMOs require a referral from your primary physician to see specialists. Indemnity plans allow the insurance carrier the freedom to choose any doctor.
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Read each company's policy inclusions when shopping for individual health insurance coverage. Find out the coverage amounts as well as any limitations on preexisting medical conditions.
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Request adjusted insurance quotes from potential individual carriers. Before making a final decision, ask your broker to present you with premium amounts based on making possible policy changes. For instance, you will pay less for coverage with a higher co-pay amount or if you opt out of a prescription drug program.
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Tips & Warnings
Make sure you meet the requirements to receive individual health insurance coverage. Restrictions may require that the person is not eligible for group or Medicare coverage.
