Health - Individual Health Insurance Plans

Free Health Insurance Quote! Fill out the information below to get a Free Health Insurance Quote from our trusted agents: Zip Code:   Type:   Health Insurance Medicare Supplement Short Term Health Student Health

Health insurance is separated by two basic types.  These are Group Health and Individual Health.  Group Health is provided by an employer and is normally the most affordable route, if the option is available and the employer is contributing toward the premium.

For some group health insurance is simply not an option, whether they are self employed, between jobs or work for an employer who does not offer group health benefits.

You may be asking yourself, "what are my health insurance options if I do not have group health as an option?" Many companies offer individual health insurance, most plans will fall under one of the following catagories below.

Managed and non-managed health plans, also known as network or indemnity plans.  These catagories determine your freedom to visit various providers.

Indemnity Plans:

Indemnity plans allow you to use any hospital or provider.  Indemnity plans do not require that you pre-approve your health services, such as surgeries.  The insurance company will pay the bill at the policies stated amount, regardless of which hospital or provider was used.

Of course, if it sounds too good to be true, there is probably a catch.  There is, if you choose to have an indemnity plan you will normally be paying a higher premium for the health plan.  Also the insurance company will likely pay based on Usual, Reasonable and Customary (URC) charges.  The URC amount can be far less than the amount which the provider charges.

Managed Care:

There are two popular types of managed care plans. These include the HMO and PPO plans. Managed care plans are built to save both you and the insurance company money.  The insurance company will typically have a network of providers whom have agreed to provide services to the insurance company's clients for a discounted rate.  In trade the doctor receives new patients by referral from the insurance company.

HMO Plans:

HMOs are the oldest type of managed care programs.  HMO plans typically favor paying for smaller preventative type visits.  Of course they also provide coverage for more major health services as well.  HMO plans can be high in premium and offer little to no freedom with choice of doctors and hospitals.  They will typically require that you stay within the network unless you are referred out by a physician.

PPO Plans:

PPOs have become the nations most popular type of managed care plan.  These plans are considered to be sort of a mix of both an Indemnity and HMO plan. They provide both you and the insurance company with discounted rates from the provider.  You also have more freedom choosing your provider than you would with an HMO plan.  You can choose any provider, if the provider is not listed in the network, the insurance company will likely pay less toward the bill.  For instance; if you have a plan which would pay an in-network provider 80% after the deductible they may only pay 70% if you chose a provider outside the network.

Take some time to choose the right plan for both you and your family.  If you need help deciding which option may be best for you, please contact an agent.