Health Insurance Articles
Find The Right Health Insurance For Individuals Without Employee Benefits
2010-03-02
Most Americans receive their health insurance through employer-paid, group coverage plans. However, due to rapidly rising premiums, many companies are unable to offer employee benefits. More and more workers are forced to find individual health insurance, which is substantially more expensive than insurance provided by companies. Individuals often do not have access to the selective contracting that managed care organizations use to lower health care costs for employers. Where employees represent a collective pool of resources, the individual must incur all expenses out-of-pocket. This is why finding the right health insurance coverage is extremely important. It could mean the difference between a bill and bankruptcy.
The first thing to do is to contact insurance companies and compare quotes. Start with the major ones like Blue Cross/Blue Shield and Aetna. The bigger companies tend to provide the most coverage. Be clear that you are looking for the most competitive price and do not be afraid to shop around. You must find the right balance between comprehensive coverage and affordability. Next, you should research trade organizations and their member benefits. Many groups, such as the American Trade Association, offer discounted health insurance coverage. Professional and trade organizations work along the same lines as managed care organizations; as a collective buying group they can negotiate price reductions from providers.
If you are still in school, contact your college or university. Most schools offer basic, reduced cost, health plans to their students. This is also an added incentive to continue your education, which you can springboard into a better paying job that does offer employee benefits. Another option to consider is gap insurance, which can cover you while you are in between jobs or waiting for a new employer's benefits to begin.
Once you have done your basic research, understanding each plan's benefit details is the next step. Things like deductibles, doctor's office visits, and prescriptions can work in completely different ways depending on the company or plan that you choose. Knowing the specifics can help you avoid surprises. An independent insurance agent can explain to you the differences in benefits before you apply. It is very important to review your health history before contacting insurance companies. Your medical history can cause you to be denied or your rates to be raised. It is a good idea to apply for more than one insurance plan. This will ensure you a greater chance of receiving coverage. Finding the right health plan is serious business, but with the right information, it does not have to be such an arduous task.
