Individual Health Insurance Plans

When you’re young and healthy, health insurance can seem like an unnecessary expense that you don’t need. But the sad truth is that we all get sick at some point in our lives, and if you don’t have insurance to cover the costs of your treatment, you could be looking at thousands upon thousands of dollars of debt.

A simple checkup could turn into an expensive surgery and months of recovery, but that cost will be minimal compared to what it would cost if you didn’t have insurance and were paying out-of-pocket prices.

Individual health insurance plans cover only you and aren’t tied to anyone else in your family. If you’re on your own, or your spouse has health insurance that already covers everyone else in the family, this might be the right plan for you.

But knowing what to look for in an individual health insurance plan can be tough if you’ve never bought one before—an unfamiliar position that many have been in before. Here are some tips to help you find the right plan so that you can stay healthy and happy.

What Is an Individual Health Insurance Plan

Individual health insurance plans are for people who do not have coverage through their employer, family, or government program. They may be more expensive than other types of coverage but offer a wider range of benefits. When you apply for an individual health insurance plan, you will have to answer questions about your medical history and lifestyle. This helps the company set your rates and decide what kind of policy they will offer you.

There are two main categories of individual health insurance: HMOs and PPOs. HMOs limit which doctors you can see to keep costs down, while PPOs allow you to choose any doctor in your network with no limitations on out-of-network care if your plan covers it.

How Much Does Health Insurance Cost?

Individual health insurance costs vary according to personal coverage choices and factors such as age, income, location, number of family members covered (if any), and health care use. In 2020, the average cost of health insurance for an individual was $456, but costs vary based on the health plan you choose.

A reliable estimate of your costs can be obtained when you know your health plan’s premiums, deductibles, cost-sharing expenses, and maximum out-of-pocket expenses. At Goldstein Health, our licensed insurance brokers are experts in health plans. We can help you find an affordable health plan that meets your needs. Learn more through the experts.