Health Insurance Plans for Individuals

One’s health condition can change drastically despite your efforts to save it on your own. Securing your financial state utilizing those perks provided by health insurance plans for individuals is means of investing money which may help you and your relatives overcome the challenges of illness treatment in case your body happens to experience one. Unlike family shared plans, this kind of policies is applicable only with regard to the issues happening to one person. Yet it doesn’t mean your family cannot benefit from it: the treatment expenses the policy issuing company covers may help you save the common budget. Such type of a policy grants you:

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  • Coverage of surgical and medical expenses that may arise in case of getting ill or disease.
  • Provision of free medical services delivered by the so-called “Providers” or clinics, healthcare practitioners, pharmacies, etc.
  • Freedom of choice: you can pick the service you want should the need arise.
  • Coverage of a variety of services related to healthcare: hospitalization, surgeries, critical condition treatment and similar protocols, med check ups, etc.

The range of situations and cases to which a health insurance can be applied is quite wide: whatever part of your body seems to be ailing, your document provider will manage the money gathered within your insured budget to pay for the services delivered.

The features of the individual plans in question:

  • In most cases you can choose a medical organization (e.g. a hospital, clinic, pharmacy, etc.), where appropriate services are to be delivered provided such a need arises.
  • Individual insurance policies are issued regardless of citizenship: geographical restrictions do not apply.
  • In most cases you don’t have to handle documentation, hand in special papers, etc.: as you carry your insurance document wherever you go, you are provided appropriate treatment, and the costs are managed by the insurance agent automatically.

The kind of plans considered in this section falls into the following categories:

  • Fee-for service insurance: it’s the traditional plan implying partial payment for each visit to the doctor; the one whose health is being insured pays the rest of the sum needed for treatment.
  • Managed care plans are another kind of service provision which is carried out via an HMO (standing for an organization for health maintenance) or a PPO (an abbreviation of a service organization preferred by the agency). Under such conditions, the communication between the insurance company representatives and medical centre employees is established by means of organizing a network. All it takes to have your disease handled using the pool of money you’ve gathered is to let doctor know about your problems, and the centre will handle all the financial issues for you.

Health Insurance Plans for Individuals over 50

Finding an appropriate plan if you’re over 50, but still out of the Medicare range can be challenging. Yet the 2014 law concerning the healthcare system provides better conditions to ensure easier access for those who are older than 50 years of age. According to the Affordable Care Act, individuals between 50 and 64 must be eligible for obtaining a corresponding policy regardless of condition: thus, even if a person suffers from conditions diagnosed as of the date of signing the documents (in such cases these are termed preexisting), the applicant will still be given an opportunity to ensure the costs of treatment will be covered.

Such plan pricing is shaped by several factors, including the age, the health condition and the family income. Those over 50 whose applications for the Medicaid programs were rejected due to poverty before the above mentioned law now have access to this service.

In terms of investments, it’s recommended to choose an individual plan rather than a family one, as it helps you manage your invested money pool more efficiently and reasonably.

Individual and Family Health Insurance Plan

The overwhelming majority of people struggle choosing between an individual plan and a family one. Getting a separate document per individual and for the whole family differs to a great extent since in the first case your document grants you compensations for all the medical expenses within the budget insured, whereas family plans imply sharing a common money pool insured, which is to be used in case of treatment by each person belonging to the family. Yet you must remember the price may vary too: it’s affected by the possibility that more than a single person from one family may require medical attention at a time.