There are many times in your life when you may find reasons for individual health insurance. For instance, you may lose a job where you had insurance, you may have had insurance though a spouse or partner, and the relationship ended. Perhaps you were covered under your parents insurance and now you’re of an adult age or your job doesn’t offer a health insurance plan.

Whatever the situation, it’s important to remember that you may have a chance to get coverage in a group health insurance plan. Why is this important? Simply because most group insurance plans are not only easier to get into they are usually much less expensive than individual health insurance plans. Many organizations, associations, unions, and clubs offer their members coverage under a group insurance plan. Check any group that you belong to, you will be surprised at how many may offer a group health insurance plan. It may even be of benefit to you to find out which clubs, or organizations offer group health benefits and find one in which you share an interest and join it.

If you need to get individual insurance be prepared to do some homework, this is a huge industry, whose variables are great. It’s important to know up front what your health insurance needs are and what services you’ll receive. You also need to understand what you’ll be paying out of pocket above the cost of the insurance plan, and what if any limitations there may be. Obviously, if you’re young, in excellent health, and have no dependants, your chance of obtaining a good affordable health plan is very good. If your older, or have health problems, a spouse, or partner, and possibly children, or all of the above, you may find it very difficult to find coverage and certainly you be paying quite a bit more.

So how do you get started? Well it’s probably best to make a list of what type of insurance risks you have; i.e. age, gender, general health condition, medications needed, smoker, high-risk taker, etc. Next make a list of what you are looking for in an insurance plan, do you need a good prescription plan, do you want to have the choice of doctors, specialist, and medical centers? Do you need to include a dental, and or vision plan? Then consider how much you are willing and can afford to pay, not only in premiums but also in office visits, prescriptions, and deductibles, not to mention hospital stays and emergency care. As you can see, there is quite a lot to consider.

The most common types of insurance fall into three plans, a preferred provider organization (PPO), a health maintenance organization (HMO), and an Indemnity plan (Fee-For-Service). The coverage and options for these differ greatly. It’s important to know what each of these plans include, exclude, and what you pay for each of the services provided. PPO’s allow you to choose your doctor, and see a specialist without a referral (keep in mind if you choose a doctor that is a non- preferred provider you will pay more).

With HMOs, you will have a Primary Care Physician who will guide your care and refer you to a specialist when needed. If you choose an indemnity plan, you will most likely pay a deductible often 20% of what is a usual and customary charge (mostly decided by the insurer). You may find that after shopping for a plan that it is to your benefit to use a broker. A broker represents many companies, and may be better equipped to find the best policy for your particular needs saving you time and giving you peace of mind. Whatever you decide to do, being prepared and getting as many facts and variables as possible will be your best course of action.

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