Hints on getting the right individual plan

The majority of US citizens who have their health insured get their coverage through employer-sponsored group plans. Still, not all employers provide such coverage options. And if you happen to be employed at such an enterprise this means that you are forced to look for an individual insurance plan.

Despite the common belief, there are some pros to buying individual insurance through private companies. The biggest advantage here is of course in the possibility of tailoring your policy to your exact needs, instead of coping with plans selected by the employer. You are free to adjust the plan just as you like, dropping coverage you don't need and raising your deductibles for lower premiums.

And instead of being the hostage of your workplace in terms of insurance coverage, with individual plans you get the protection you need no matter where you are working at the moment. For as long as you pay the premiums you will be covered, even if you're unemployed.

However, there are certain disadvantages to individual insurance plans as well:

• Group insurance plans provided by employers usually carry more coverage than individual plans with the same rates. That is because group plans have lower marketing and servicing costs compared to individual ones.

• Most group insurance plans provide coverage to all employees and their family members, while individual plains may refuse to cover persons who have certain health problems. And some plans will also drop coverage on a range of pre-existing health conditions.

• In the majority of states, the premiums you pay for individual health insurance gradually increase as you get older. At first, you can avoid paying too high premiums by switching providers on a regular basis. But as you age, it will be harder to get cheap health insurance as most companies charge older people with higher rates.

If you still wish to find good individual insurance plan then you will definitely need a good insurance agent to work with. Defining the amount of coverage and types of coverage to be included in your plan is a tough decision. Working with a competent agent will help you define your insurance needs and get the right coverage for your personal situation. Remember that you have to trust your agent in order to get the most out of your collaboration. You have to provide all the information required as only this way your agent can help you with the best health insurance quotes he can find.

Don't forget to ask the following questions when looking for an individual plan:

 Will this plan offer the coverage for going to a specific doctor or hospital?
 What the referral system is all about?
 How pre-existing conditions are covered?
 What about coverage away from home?
 How much should I pay in premiums, deductibles and co-payments?
 Are there any additional payments I have to know about?
 Are there any maximum amounts that the plan will pay?
 Are there any specific benefits available with this plan?

It may look hard finding a good plan in the individual insurance market. So make sure to make the purchase with caution, like you would do with an expensive item, say a car. Research all of your options, see what companies are offering and make the decision only after analyzing all the possibilities.