Individual health insurance coverage

What happens if you or your family member leaves the job? You will lose your employer-supported group coverage and may opt for individual health insurance coverage. It may be possible to keep the same individual health policy, but you will have to pay for it yourself. This will certainly cost you more than group coverage for the same, or less, protection. A Federal law makes it possible for most people to continue their group health coverage for a period of time after they leave their employer. Called COBRA (for the Consolidated Omnibus Budget Reconciliation Act of 1985), the law requires that if you work for a business of 20 or more employees and leave your job or are laid off, you can continue to get health insurance coverage for at least 18 months. You will be charged a higher premium than when you were working.

Individual health insurance coverage information

The differences among fee-for-service plans, individual health insurance coverage, HMOs, and PPOs are not as clear cut as they once were. Fee for service plans have adopted some activities used by HMOs and PPOs to control the use of medical services. And individual health insurance coverage, HMOs and PPOs are offering more freedom to choose doctors, the way fee-for-service plans do. By studying your individual health insurance coverage options carefully, you will be able to pick the one that provides you with the coverage you need, no matter what it is called.

Individual health insurance coverage

Choosing individual health insurance plan is like making any other major purchase: You choose the plan that meets both your needs and your budget. For most people, this means deciding which plan is worth the cost. For example, plans that allow you the most choices in doctors and hospitals also tend to cost more than plans that limit choices. Plans that help to manage the care you receive usually cost you less, but you give up some freedom of choice and coverage.