INDIVIDUAL HEALTH
What can be more important than preparing for the unexpected? When it comes to medical costs, you can pay dearly if you do not have health insurance. Individual Health plans are made for those who want to personalize their coverage and are not covered through their employer.
WHAT IS INDIVIDUAL HEATLH INSURANCE?
Individual Health insurance is for those who do not already receive health benefits from an employer. Family insurance falls in the same category as paid for by the insured and not through a third party. This insurance will apply for medical visits and hospital procedures, and the plan will pay for a set portion of covered services, leaving you with copayments, monthly premiums, and an out-of-pocket yearly deductible, after which the plan will pay 100%. Without health insurance, an unexpected medical emergency can quickly lead to financial difficulties and dwindle your savings.
COST AND COVERAGE
Monthly premiums for individual health policies tend to be higher compared to the group plans from employers. The 2020 national average for an individual health insurance premium is $456 per month. Depending on the plan’s benefits, the copayments and the deductible may vary considerably between different plans.
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State law regulates individual health policies to give you adequate coverage for preventive care, medically-necessary procedures, and emergency services. Doctor’s visits, prescription drugs, and some specialist care are covered. There are a variety of plan options that can be specified for hospitalization or more broad care. Plans may have a network, in which case seeing healthcare providers in the network will result in lower costs.
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