Individual health insurance policies

There are plenty of individual health insurance policies available nowadays. There is no doubt, group health insurance can save you a lot of money, however if you want to feel more protected and get more benefits, you should definitely consider individual policies type plan.

When purchasing individual health insurance policies, you will find that the policy is written individually for one person, and based on his or her health conditions and requests. Sometimes it is difficult to get accepted for individual insurance, because many companies ask for additional evidence. Try to compare everything: deductibles, premium payments, coverage of the company’s policies. Discover what their terms say about pre-existing medical conditions before choosing an insurance plan.

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Take a closer look at different individual insurance plans available.

Preferred Provider Organization (PPO) has an arrangement with group of doctors, hospitals and other providers, who accept lower fees for their services. If you cooperate within this network, the cost of treatment will be much lower. If you decide to choose a different network, you will have to pay higher coinsurance and meet the deductible.

HMO health insurance plan is provided by the Health Maintenance Organization. This organization has a network of doctors and hospitals. If you receive treatment inside the network, your expenses will be covered, according to your insurance plan policies. Although, in case of an accident, when there is no time to choose which hospital to attend, your medical service expenses will be still partly covered by this organization. Most HMOs will require some co-pays for doctor visits. Some plans do not require co-pays at all, but they usually cost slightly more and have higher monthly premiums.

There are various types of HMO health insurance plans:

• The Staff Model HMO. You see doctors at a central office or medical center, as they are employees of the insurance plan.
• Individual Practice Association. You attend a group or individual private doctors, who have their own offices, where you see them.
• Primary Care Physician. HMO gives you a list of doctors of their network, from which you can chose your “primary care physician”. This doctor will be automatically set as your chief medical officer. He will direct your actions, check your health conditions, decide if you need to see specialists or not.

A mixture of PPO and HMO plans is well-known POS plan (Pint-of-Service). The primary care doctors, according to this plan, make referrals to other providers inside the network. If you want to receive treatment outside the network, the POS plan will refund a predetermined amount. Those plans usually cost more than HMOs, the reason is: they give you flexibility to call a doctor on your own, if your primary physician doesn’t think you need it.