Your Guide to Choosing an Individual Health Insurance Plan
Selecting an individual health insurance plan can be a daunting task, with so many options and a slim time window for registration you may feel lost. According to Policyadvice.net, in 2018, healthcare costs skyrocketed. 9.4% of Americans were uninsured, leading them to have to pay out of pocket when in a medical emergency.
But getting an individual health insurance plan doesn't have to be a process to dread. Keep in mind that one of the most important aspects of selecting a health insurance plan is to compare multiple ones. There are many different price points and offerings when it comes to insurance plan inclusion.
The Importance of Individual Health Insurance
One of the biggest complaints that people have is that individual health insurance is ex[ensive. While purchasing an individual health insurance plan is more expensive than if you were to be offered a plan by your employer, that shouldn't be a deterrent. The average ER cost in 2021 is around $2,000 - and that number mainly covers less severe situations. The unexpected is just that, unexpected, you need health insurance in the event that you need to have emergency surgery or need frequent doctor visits and tests. Otherwise, you can find yourself thousands of dollars in debt.
Select and Compare
To select an individual health insurance plan, the easiest method is to go through the government healthcare or exchange marketplace. Here you will be able to compare and select different plans depending on their coverage and price. Using a healthcare marketplace is the easiest method of finding individual insurance. This saves you time from having to get different quotes from multiple companies.
Once you find the coverage that fits your needs it is then easy to select that plan through the healthcare marketplace.
Which Plan Is Best for You?
Two of the most common insurance plans are HMO and PPO plans. Where these plans are similar is that your plan will offer you a list of medical providers in the network. However, with an HMO, you are limited to the providers listed if you want to receive medical care. A PPO is a little bit more flexible. While you are still given a network of medical providers, you're not restricted to staying within that list of providers.
Select Your Plan Today
As health insurance has windows as to when you are able to apply, getting individual health insurance is something that you should do sooner rather than later. Speak with Benefit Analysis Corporation to compare and select plans that fit into your budget and offer the comprehensive care that will suit you best.