Individual Health Plans
Wednesday, October 22, 2014  
 
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Types of Health Coverage

Individual Medical Insurance Plans

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Individual medical insurance plans are available to those who are self-employed, or for those who work for an employer that does not provide group medical benefits. These plans may come in many different forms and at various price levels. In order to best understand the individual medical insurance plan best suited to your needs, we'll take a look at your options below.

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Which type of medical insurance?

As you seek out the best individual medical insurance plan for you and your family, you'll find that you have four basic options. You can choose from indemnity medical insurance, HMO (health maintenance organization) plans, PPO (preferred provider organization) plans, or HSA (health savings accounts) plans.

What do all the different acronyms mean? The main difference among the types of medical insurance all comes down to choice and cost. The more flexibility or choice that you want from a policy, the more expensive it will be. Below is a brief description of each type of medical insurance policy and how they compare.

  • HMO: Usually relatively affordable, but choice and options are restricted. You must choose a primary care physician from within the network.
  • PPO: Slightly higher cost. No primary care physician is required but you are encouraged through pricing to stay within the network.
  • HSA: Special savings accounts that can be used with high-deductible/lower premium medical plans. Contributions to HSAs can be made tax-free.
  • Indemnity Medical Insurance: Any doctor or hospital can be used. You are reimbursed directly and must cover the initial costs with the medical care provider. The basic plan can be quite inexpensive, but the costs add up quickly if a major medical condition arises.

SOURCE
http://www.healthinsurancefinders.com/individual-health-insurance-plans.html

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Individual-Health-Plans is not a licensed insurer or agency. We provide free information about insurance companies, products and services; we make no representation, express or implied, of any sponsorship by or any other relationship with any company on this site. Products and services may not be available in all states and no guarantees regarding same are made herein. Quotes are provided through insurance brokers, agents, or other representatives who may or may not be able to obtain quotes from any particular company. We make no representation, express or implied, that a user will be able to obtain an insurance quote from any particular insurance company profiled on this site.

 
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KEY FACTS...

Did you know that common childhood sicknesses such as asthma and ear infections can affect mental and language development when left untreated? Don't let this happen to your child- apply for a health insurance plan for your family today! 1
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