Individual Health Insurance

Health insurance may be the most important type of insurance you can carry. That’s because it affects more areas than just your health - it can also affect your financial bottom line.

Unexpected medical bills can devastate your finances. Health insurance doesn’t just help you pay for care, it can protect you and your family financially in the event of unexpected illnesses and injuries.

Since care costs are so unpredictable, proper coverage can give you definite peace of mind in knowing you are protected from most of these costs. 

Each year, there is a period of time called “open enrollment", which runs from November through January. During this time you can shop and apply for a new health insurance plan if you find your current plan unsuitable.

Once open enrollment period ends, you cannot buy or change a plan unless you have a qualifying life event (such as losing your current coverage, getting married or having a baby).

Consumers are also offered tax credits if their household income falls below established thresholds. The law also requires penalties, based on income or number of dependents, for consumers who choose not to participate in a health care plan.

Until recently, most people got their health insurance from their employer, and those with lower incomes received coverage from the government. But more and more people are buying private health insurance plans tailor-made for individuals and families.

There are multiple types of health insurance policies, including:

• HMO plans: An HMO, Health Maintenance Organization, is a specific type of health care plan that sets out guidelines under which doctors can operate. On average, health care coverage through the use of an HMO costs less than comparable insurance packages.
• Major Medical: Provides benefits for most types of medical expenses that may be incurred. Offering more complete coverage with fewer gaps, major medical insurance covers a much broader range of medical expenses—including those incurred both in and out of the hospital—with generally higher individual benefits and policy maximum limits.
• Surgical policies: Most health insurance plans sold today are major medical plans but there are a few hospital and surgical health insurance plans on the market. Surgical health plans often aren't as comprehensive as major medical plans, but are typically less expensive.
• Dread Disease Policies: Often called “cancer policies,” dread disease policies cover one or more dread disease: cancer, heart disease, or other major malady.
• Hospital indemnity: A hospital indemnity plan provides a daily benefit for each day you are hospitalized -- and this is paid without regard to the hospital expenses incurred. This daily amount is paid to you and the benefit is triggered simply by confinement as an inpatient.

With so many options, we know that health insurance can seem overwhelming. If you have any questions about your health coverage, please do not hesitate to contact us. We are always happy to review your situation, assess your needs, and find the best policy for you.