The age old adage of an ounce of prevention is better than a pound of cure is very true when one is contemplating buying individual health insurance.
There are lots of self employed folks who are experiencing difficulty with purchasing insurance. With the current worldwide depression, which has left millions of people jobless, budgets have been stretched and folk have had to pull in their belts. This has made a lot of individuals hesitant about purchasing health care insurance.
Purchasing individual medical insurance has its own benefits and disadvantages and you need to take a look at your own personal situation when getting cover. If you are working then your employer might well provide you with a policy under a group insurance scheme. In this situation your employer will either pay for your premium in full or offer to pay a significant proportion of your premium. However, if you are self employed or unemployed then adding the price of an insurance premium for individual medical insurance to an already small budget could require some thought.
If you are faced with purchasing your own individual medical insurance policy then you will find that there are insurance policies which have high out-of-pocket costs such as deductibles, coinsurance, and co-payments but which typically have comparatively low premiums. You may also find that there are policies with low out-of-pocket costs which tend to have higher premiums. Also, health plans, for example HMO managed care plans, which require you to use a network of physicians and hospitals normally cost less than normal policies. Depending on the insurance company chosen, there can also be a choice to add ones kids as relatives and have them totally covered as well , occasionally at no additional cost.
The costs of purchasing individual insurance for yourself and your family will be set by 2 factors:
First, you must take under consideration your family medical history and you might find it useful to talk to your personal doctor before considering purchasing individual medical insurance.
Second, in these tricky financial times, you will need to get a type of insurance plan which meets both your personal needs and those of your pocketbook and this may be an exceedingly challenging task. But, so long as you research the companies and schemes available in your area and talk to representatives from these organizations you will find several low cost health insurance available to you.
Once you have found a few plans which meet your wishes don’t be scared to ask for free quotations and to compare these carefully until you find a plan which you’re feeling comfortable with. It is actually worth the time and effort if you consider that you’re going to probably be on the plan or scheme for a while and during this period you are going to want to know that your medical wants are entirely covered and that you will continue to be able to keep within you budget at the end of each month.
Tags: Health and Fitness