Buying individual health insurance plans is a feasible option if you want to avoid falling victim to the escalating medical costs. Buying individual health insurance plans that cover your family is an ideal solution to keep your medical bills in check. This is even more important if you are self-employed or are working for a company that does not cover your health insurance. Even for those working in companies that provide group insurance, it is better to play safe and buy an individual health insurance plan for a greater security.
With so many companies in the market offering affordable individual health plans, it is best to study various options before arriving at any decision. There are three types of policies available for individuals, families and for those who are self employed -PPO Plans, HMO Plans, and Indemnity Plans.
In a PPO (Preferred Provider Organization), you have the option of choosing your health provider from a pool of doctors associated with the network. If you opt for the HMO (Health Management Plan), you will be able to choose one doctor who will then be your primary health physician. But if you need to go to a specialist, you will need a nod of approval from him or her. Indemnity Plans are the traditional health insurance plans wherein you can choose any hospital or doctor for your services.
Once you decide upon the plan, contact the companies to get their quotes. The best thing is to seek expert advice and consult your friends, in case they have bought health coverage plans. Study the quotes carefully and compare the plans. You will find that some plans cover additional benefits like providing prescription drugs or offering facilities for preventive care. Vision care and maternity care benefits are also covered by some plans.
Another factor that you need to analyze carefully is that of additional costs that might be involved. This means that apart from the monthly premiums, you may end up paying additional costs. These costs can really make a difference to your budget especially if the plan covers your children or other family members.
All said, any individual health plan that you buy should cover your hospital expenses, surgical expenses, and physician’s expenses as also any incidental costs in case you are hospitalized.