Insurance Tips for Individuals

Choosing an individual health plan can be overwhelming, as there will typically be a number of options to choose from. Individual health plans can cover just one person, as well as several members of a family.

Like many other forms of health insurance, these plans are available directly from health insurance companies, as well as through the state insurance marketplace. Regardless of how you receive coverage, an experienced agent can help you navigate the ins and outs of your health insurance plan.

Give Yourself Enough Time to Choose

For most U.S. states, your individual health plan will need to be purchased during the state’s open enrollment period each year. Exceptions to this rule exist for certain circumstances, such as having a baby or getting married.

The open enrollment period generally ends on February 15 each year in most states. So when you know you’re in the market for health insurance, don’t wait until the last minute. Give yourself ample time to review your options so that you don’t need to make a rush decision.

Ask Yourself the Right Questions

When you’re investigating an individual health insurance plan, ask yourself questions such as:

  • How often do I typically visit the doctor?
  • How often might I be visiting the doctor in the future?
  • What types of health care might I need this year?
  • What’s my projected spend on health care this year?
  • Which prescription medications am I taking?
  • Do I have any preferred doctors and hospitals?
  • Would I rather pay more monthly, or more when I receive care?

Learn How Plans Are Structured

There are a few main types of structuring for health insurance plans: health maintenance organization (HMO), point-of-service (POS), preferred provider organization (PPO), and high-deductible plans with health savings accounts (HSAs). An HMO allows you to choose a primary care physician with low copayments, but you’re limited to a specific network of hospitals and doctors.

A PPO typically provides more flexibility, allowing you to see specialists without primary care referral. POS plans operate like HMOs when you stay in the network, but also provide the flexibility of HMO in the sense that you can see doctors outside your network if you have a referral.

If you need help finding the perfect individual health insurance plan for your needs and wishes, call an experienced agent at Murray Insurance at (800) 388-9908 to help guide you through the process and explain your options.