As the cost of healthcare has risen and become more accessible, many Americans have come to expect affordable options from their health insurance companies. That’s why it’s so unfortunate that so many of these plans are being discontinued or cut back in price.
If you are one of the millions of Americans who have health insurance, it’s likely because you value cost and coverage over features like covers eye doctors, maternity care, and more.
But what if you could find a plan that did both? What if you could get great health insurance at a price your budget can tolerate?
That’s what is possible with the launch of individual health insurance policies. While they are not as comprehensive as whole-person policies or hospitalist plans, these individual policies provide essential benefits at an affordable price.
Here is an overview of some of the best individual health insurance plans available.
What is individual health insurance?
Individual health insurance plans were created to provide affordable coverage to individuals. Unlike group health insurance policies that are often only available to large businesses and government entities, an individual health insurance policy is not limited in scope or benefits. It is designed to cover every type of medical care a person might need and pay for it as if it were a single person’s bill.
What are the benefits of an individual insurance policy?
Here are some of the features of an individual health insurance policy:
No annual fee: You don’t usually have to pay an upfront fee for this coverage. You will only have to pay for what you use once the policy is started. This is a big positive for people on fixed incomes.
No deductible: You have to pay the full cost of each covered service up to the coverage limit you have chosen. This protects people on limited budgets from being priced out of coverage due to high costs.
Coverage for essential benefits: An individual health policy may not cover certain services that are considered “essential,” such as mental health, pain management, pharmaceutical coverage, or medical home treatment. However, there are a number of individual plans in select cities and states that do offer essential benefits coverage.
Lifetime Benefits: A lot of health insurance companies only offer short-term plans that only cover a few months at a time. You need to purchase a new policy every time the new term starts (e.g. November for school students). But with an individual plan, you can usually choose any eligible doctor you want to see throughout the year and even stay on the same doctor’s list if you need to.
Common Individual Health Insurance Plans: Pros & Cons
Here are a few popular things about the individual health insurance policies available this year:
Lowest price in the industry: The smallest plans start as low as $80 per month for single coverage. For families of four, that’s less than $4,000 per year.
Flexibility: You can choose how you want to pay for this coverage. You can pay monthly, in full, or make a lump-sum payment.
Easy to find coverage: You can search for plans by city or by zip code. You can also view available plans by clicking on “Health Insurance Plans” in the navigation bar at the top of this page.
How to Find the Right Individual Health Insurance Plan
You can access a variety of databases to help you find individual health insurance plans. One of the most common ways to do that is by using insuranceplans.com. This site allows you to search for individual health insurance plans by zip code, city, or by health status.
Another good way to find individual health insurance plans is by using the insurance marketplaces set up by each state. This will let you search by health status (i.e. healthy, premenopausal, etc.) and by coverage type (i.e. full coverage, limited coverage, etc.).
The Importance of Customer Service
As you shop around for individual health insurance plans, make sure you are getting customer service from each phone call, letter, and email you send. You don’t need to choose the cheapest plan in the industry—in fact, that is usually the case with no plans—but you may want to choose the plan with the most comprehensive coverage.
Keep in mind that the customer service aspect of health insurance is critical. If you have a problem with your policy, coverage, or any aspect of your experience with the company, get it resolved as soon as possible. Contacting the company and letting them know what is going on with your situation will benefit you in the long run.
Wrapping Up
If you are one of the millions of Americans who have health insurance, it’s likely because you value cost and coverage over features like covers eye doctors, maternity care, and more. But what if you could find a plan that did both? What if you could get great health insurance at a price your budget can tolerate?
Individual health insurance policies may carry the benefits you are looking for. Although they may not be as comprehensive as whole-person policies or hospitalist plans, these individual policies can provide essential benefits at an affordable price.
