Individual Health Insurance

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In this era of progressively growing health hazards and accidents, individual health insurance is becoming an absolute necessity. Insurance policies provide you monetary protection (you don’t need to pay the cash from your pocket) against various unforeseen contingencies of life, in return of an amount payable in regular intervals (premium). Individual health insurance is one such plan that is designed to provide security when a critical illness or accident befalls you.

Individual health insurance – Little details

In the corporate world, most of your employers will provide you with group health insurance. However, if you are not comfortable or satisfied with that, you can always opt for your personal health insurance policy. Each state has its own special laws and requirements for insurance and if you fall short of the criterions, set by the state, you may be denied enrollment. In case of denial, you can file an appeal or obtain some other policy from some other company or try to get one individual health insurance sponsored by the government.

There are two types of individual health insurance plans – managed care health plan and indemnity plan. The former limits your choice of doctors or specialists to the extent of acquiring approval from your service provider. However, these are less costly. Indemnity plans are traditional ones and are dearer than the managed care ones. In the case of the later, you have to pay the bill first and then the insurance company reimburses you.

What are the procedures?

With so many insurance companies vying for your attention it’s really difficult to make your choice. Whatsoever, you need to consider certain factors before doing so. Foremost, you have to perform a balancing act between the cost of the plan and its coverage. Next, you need to compare the coverage of few selected companies from their online quotes. If you have any doubt in this stage you can visit your state health department to understand the insurance laws.

You will also be needed to undertake a physical examination and answer a series of questionnaire for the insurance company to judge your eligibility. If you are eligible, the premium payable will depend on several factors like your current physical condition, regular income, nature of occupation, etc. As a package deal, you will now get several facilities like maternal benefits, rehabilitation of substance abuse, consultation fees, prescription drugs card, etc. The last one is most popular as it allows purchasing the prescription drugs for less.

So obtain your individual health insurance now and enjoy a carefree life.

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