subject: The Process Of Buying Individual Health Insurance [print this page] People who do not receive health benefits through their employer will be very interested to learn about buying individual health insurance. Individual plans are offered in all of the states, and each state varies as to how many plans are offered, what they contain, and how much they cost. It helps for people to have some information and tips available as they make the decision to purchase their own medical plans.
To begin, there are different types of health plans available. The most common types are PPOs, HMOs, and PSOs. PPOs, or point of service plans, are rather popular. They tend to be the most expensive type of plan, and they also contain the most comprehensive benefits. These plans keep costs at a minimum when a person sees an in-network doctor, though a patient has the option of seeing an out-of-network doctor for a higher fee. HMOs are cheaper than PPOs, but people are limited to only seeing doctors that are in-network with these plans. POS plans are a hybrid of both the PPO and HMO plans.
Once a person decides which type of plan that he or she is interested in, how much money is available in his or her budget for health insurance is the next big item to think about. As a patient thinks about costs, it is also helpful to see if his or her state offers HSA plans. These health savings account plans couple high deductible health insurance plans with savings accounts. Money that is not used to pay for health expenses in a given year is instead put into savings. This can save a person a lot of money, as money not needed for medical treatment can be saved.
At this point, a person may be wondering how he or she can purchase an individual plan. This can be done by visiting a website that caters to comparing rates, calling each of the companies, or visiting the websites of individual companies. While calling individual firms or visiting their websites tend to yield detailed and comprehensive information, it is often easiest to go to a website that compares rates.
People typically have to plug in some information on these sites such as age, number of children, etc. In order for quotes to come up. Quotes from different providers that are offered in their states will be made available to patients. Being able to compare rates by way of one single website makes life a lot easier.
In conclusion, people who do not get health benefits through an employer can buy it on their own through the individual market. There are PPO, HMO, and POS plans available. People can go to one stop shop sites or visit the websites of or call different insurance companies as well.
by: Lance Thorington
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