Are you searching for Individual Health Insurance?
I can understand how leaving a job is really hard, especially when you’re walking away from the benefits package. Once you’re out on your own whether looking for Individual Health Insurance, starting your own business, working for a small employer that offers no coverage or suddenly find yourself among the ranks of the unemployed the reality is the same: You must cough up a lot of dough for what will feel like inferior health coverage.
Before you start your search for Individual Health Insurance, brace yourself. The private Individual Health Insurance market isn’t pretty. Here’s what you have to look forward to for Individual Health Insurance: steep monthly premiums, higher copayments, outrageous deductibles and fewer Individual Health Insurance benefits. Moreover, the process can be tedious and downright confusing which helps explain why there are some 50 million Individual Health Insurance Americans under age 65 who went at least six months without coverage during 2006.
The key, of course, is to shop around and make an informed decision that you and your pocketbook can live with. This will take some time. Experts recommend you give yourself at least 60 days to examine your options and apply for a policy. There’s a lot more to it than when your former employer asked you to check a box electing an Individual Health Insurance managed-care plan or a preferred provider organization.
Unlike an employer-sponsored plan that has to accept everyone at the same price, Individual Health Insurance plans in California are underwritten based on the age, weight, smoking status and health history. In some cases depending on the Carrier.. applicants will even have to go through a medical examination. A preexisting condition as common as asthma could be enough for an insurer to hike your premiums, while anxiety or depression might cause an underwriter to think twice. And if you have a history of heart disease, cancer or diabetes, you could be out of luck entirely. A plan could either be too expensive or include a rider that excludes the very ailment for which you need coverage.
According to the Kaiser Family Foundation, a Menlo Park, Calif.-based nonprofit focused on health-care policy, the average employee paid $58 a month for health insurance in 2007. Employers picked up the rest a $3,785 tab. How much can an individual expect to pay? America’s Health Insurance Plans says the average individual annual premiums from 2006 to 2007 cost $2,613, or $218 a month. While individual plans may appear cheaper, individuals have to pay the entire premium on their own. And as we mentioned earlier, those in restricted states, and older individuals with health issues, can expect to pay a lot more.