Individual insurance plans available

A shift is happening among employers away from group health insurance. Because of the rising cost to offer insurance to employees, many employees are not offering group insurance. Individual health plans are becoming the trend. Like group health plans there are several different types of individual plans most insurance companies offer. However, the benefits of each plan changes if you have no dependants. A Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Point-of-Service (POS) are all plans offered as individual plans.

An HMO is the most affordable and good if you do not need to see many specialists or see the doctor very frequently. With an HMO there are no deductibles and only a small co-pay for office and emergency room visits. The monthly premiums are lower then most other plans but there is limited flexibility. An HMO has a designated list of doctors that you can see within the plan. When you sign up you must choose a primary care physician, and if you are a woman a women's health doctor. You have to stay with this doctor and if you would like to see another PCP you must change it with your insurance first and you must choose a physician within the designated list. If you would like to see a specialist you must get a referral from your PCP. A PPO offers a little more flexibility than an HMO. See also smart options.

With a PPO there is a deductible that must be met before insurance kicks in but you can set the limit. There is still a pre-designated list of physicians but you are free to move within the list without approval and you do not need to seek a referral to see a specialist. POS's are the third type of individual health plans offered. With a POS you are free to see any physician anytime and do not need to follow a list or seek approval before making an appointment. With a POS your physician will be paid a certain amount 75%-80% of he cost and you are expected to pay the difference. With a POS there is usually a deductible to be met as well. The monthly premiums are higher than a PPO or an HMO but there is greater freedom. This plan works well if you travel frequently and would need care in other states. All plans vary by the provider and you should review the plans completely before you sign up. Most insurance companies offer online quotes and only require a short medical history. Knowing your family's medical history could save you money off a new policy. Experts in the industry suggest that you seek and obtain a minimum of three online quotes.