If you don’t get healthcare coverage through your employer, or if you’re self-employed, individual health insurance is an absolute must. Don’t panic about the costs; plans can be cheaper than you expect if you shop around, and you’ll often have a lot of flexibility when it comes to the balance of premium costs and coverage.
The four big variables to watch out for are:
- The deductible (how much you pay out-of-pocket before the insurer starts paying)
- Co-payments (the percentage, if any, that you pay toward each medical or hospital bill, with the insurer picking up the rest)
- Any annual limits on the total amount the insurer pays
- Exactly which medical services, treatment and drugs the policy covers
Depending on your health level and appetite for risk, you can often find a policy and price that’s just right for you.
When offering individual health insurance, insurers have a particular interest in making sure you stay healthy. That means they’ll often pay up to 100 percent of the costs of preventative healthcare, such as checkups, screenings and vaccines.
Health insurance is certainly a complicated topic, so if you want to find out more about getting the ideal plan, contact us today.
Open enrollment is from November 1 through January 15.