Individual Health Insurance: The Facts

Determine your need.

If you’re healthy but want insurance “just in case”:

• Health insurance doesn’t have to be super-expensive. Higher-deductible policies can offer comprehensive coverage at low monthly premiums.
• If you’re an athlete who participates in high-risk activities like rock-climbing, weigh the cost. A high-deductible, low-premium health plan is considerably less expensive than a hospital stay or surgery.

If you have a family but don’t have insurance through your work:

• Consider that most kids get into scrapes and sometimes need stitches. Consider the cost of pre and post-natal doctor’s visits. Consider the cost of paying for hospital childbirth out-of-pocket. It’s worth it to have a family health policy.
• With the passage of the new Healthcare Act (PPACA) in 2010, preventative care services like regular physicals, GYN exams, and cancer screenings are offered at no charge.
• H.S.A.s (Health Savings Accounts) are tax-free accounts you can establish to help cover healthcare costs. The funds that you contribute can be used to cover qualified medical expenses, or help you meet your yearly deductible. For 2011, H.S.A. contributions may equal $6,150.

If you are in-between jobs:

• If you’ve recently lost insurance under an employer-sponsored plan or are retired but not yet eligible for Medicare, an individual policy can provide the temporary coverage you need.

There’s no need to hunt for health insurance without help.

Did you know?

• A certified insurance counselor (CIC) can clarify confusing health insurance lingo, find the best plan to fit your needs, and handle your customer service questions. And better still, this expert help costs you nothing. A good broker will work with you from start to finish, running preliminary quotes, issuing the correct applications, and answering whatever questions you have along the way.