Individual Health Insurance Plans
If you don’t have an employee-sponsored health plan, an individual policy is essential. At National Benefit Plans, we offer health plans that provide corporate-style benefits for the self-employed, small business owners, individuals turning 26, early retirees, and as an alternative to COBRA plans if you are between jobs. As an independent agency, we work with top carriers like Blue Cross Blue Shield of Michigan, Anthem Blue Cross, UnitedHealthcare, Humana, and Aetna to provide cost-saving benefits and excellent coverage. We offer various health plan options, including HMOs, PPOs, POS plans, and short-term plans. We’ll help you navigate copays, coinsurance, deductibles, and other factors to ensure you get the best policy for your needs.
Introduction to Individual Health Insurance
Health insurance is essential for individuals as it provides financial protection and access to necessary medical care. Personal health insurance ensures that you can receive timely treatments without facing overwhelming medical bills, safeguarding your personal health and financial stability. By offering comprehensive health coverage, including doctor visits, hospital stays, and preventive services, health insurance helps manage premiums and deductibles effectively.
This coverage promotes overall well-being and peace of mind, knowing you are prepared for unexpected health issues.
Types of Individual Health Insurance Plans
There are a variety of individual health insurance plan options to accommodate diverse needs. Selecting a plan tailored to your needs and financial considerations.
- Health Maintenance Organization (HMO) plans typically necessitate a primary care physician and referrals for specialist visits.
- Preferred Provider Organization (PPO) plans offer flexibility in provider choice but may entail higher costs for out-of-network care.
- Exclusive Provider Organization (EPO) plans limit coverage to in-network providers, resembling PPOs without out-of-network benefits.
- Point of Service (POS) plans blend features of HMOs and PPOs, allowing primary care selection while extending some out-of-network coverage.
- High-Deductible Health Plans (HDHPs), often coupled with Health Savings Accounts (HSAs) offer lower premiums but higher out-of-pocket costs.
Choosing the Right Health Insurance Plan
To choose the right health insurance plan, start by assessing your healthcare needs and those of your family, including any ongoing medical conditions or anticipated treatments. Evaluate the plan’s network of healthcare providers to ensure your preferred doctors and hospitals are included. Consider the plan’s coverage options, such as prescription drugs, preventive care, and specialist visits. Pay attention to out-of-pocket costs, including premiums, deductibles, copayments, and coinsurance, and weigh them against your budget and expected healthcare usage. Additionally, review the plan’s benefits, such as telemedicine services, wellness programs, and maternity care coverage. Finally, consider factors like customer service quality, flexibility in changing coverage, and any additional perks or discounts offered by the insurer.
Benefits of Having Individual Health Insurance
Individual health insurance provides essential health insurance benefits that are crucial for maintaining well-being and financial security, offering peace of mind. With the right plan, you’ll have access to necessary medical care without the fear of overwhelming expenses. You’ll receive timely treatments, preventive services, ultimately supporting a healthier and more secure lifestyle. Having individual health insurance safeguards personal health and financial stability, protecting against unexpected health issues and emergencies. Additionally, individual health insurance plans often include valuable benefits such as wellness programs, telemedicine services, and coverage for prescription drugs, further enhancing the overall quality of care.
How to Apply for Individual Health Insurance
Applying for health insurance involves navigating through the insurance application process, which comprises several essential steps.
- Initially, research available plans online or consult insurance brokers to understand the options and associated costs.
- Gather pertinent personal information such as age, address, employment status, and any pre-existing medical conditions to streamline the application.
- Proceed by accurately filling out the application form, ensuring thoroughness to prevent any delays or complications. Submit the application through preferred channels—online, via mail, or with a broker—adhering to the insurer’s procedures.
- Be prepared to furnish additional documentation if requested, such as proof of income, loss of employment or identity verification.
- Finally, meticulously review the terms and coverage details before accepting the policy to ascertain its alignment with your healthcare needs and financial considerations.
Comprehensive individual Healthcare Coverage
NBP offers comprehensive individual healthcare coverage to assure you are covered. Your all-inclusive health is important to use. With coverage ranging from health to dental and vision, we strive to help you with all areas of coverage. Have the peace of mind in knowing you are covered.
Plans Offered
Dental
Health
Life Insurance
Accident Plans
Indemnity Plans
Long Term Care
Short Term Medical
Medicare
Vision
Critical Illness/Cancer
Telemedicine
Travel Medical
Excellent
Health Insurance FAQs
What is individual health insurance?
Individual health insurance is a health coverage plan that you purchase on your own, rather than through an employer or government program. You can buy it through health insurance marketplaces, private insurers, or brokers. (see Introduction to Individual Health Insurance)
Which is the best individual health insurance?
There are many local and national carriers who are partnered with NBP to provide the best coverage and value to meet your needs. Our carrier list includes Blue Cross Blue Shield of Michigan (BCBSM), Golden Rule/United Healthcare (UHC), Priority Health, Health Alliance Plan (HAP), Ambetter, Aetna, Cigna, Blue Cross Blue Shield of Texas (BCBSTX), Humana, , , and many more.
Why is individual health insurance so expensive?
Individual health insurance can be expensive due to several factors that impact the overall cost of providing healthcare coverage. This can include your location and risk, administrative and medical costs, and possible additional services you add to your coverage.
What are the advantages and disadvantages of individual health insurance plans?
Here are some of the advantages and disadvantages of individual health insurance:
You have control over what level of coverage you want as well as your ability to customize what is important to your health. This also allows the ability to have insurance that is not attached to your workplace so if you change jobs the health insurance you have will still be with you.
The flip side is that some insurance plans can be costly and can rack up some expenses that aren’t covered. Also with the complexity of picking which plan is right you might see that some plans have a narrow or limited network of doctors and hospitals that accept the insurance.
What are some common options for individual health plans?
There are a few different types of individual health plans all listed here
Who is eligible for an individual healthcare plan?
You must be a US citizen or legal resident, and at least 18 to purchase.