Most people are familiar with the medical insurance benefits that
are received as part of a group plan. Usually this kind of medical
insurance is offered through your employer. The advantage of this
kind of group medical insurance plan is that it allows you to enjoy
significant discounts on the premiums for comprehensive policies.
When it comes to medical
insurance, freelancers or unemployed individuals find themselves
in quite a different boat than the employed when it comes to paying
for medical insurance. Individual insurance is usually quite a bit
more expensive compared to group health insurance. It is evident
that there is strength in numbers when it comes to paying premiums
and that you are in a far better position to enjoy medical insurance
benefits if you are employed.
Also individual medical insurance plans are not available to everyone.
Unlike group plans, individual plans are subject to rejection or
exclusions in the policy. This is especially true if you have a
record of medical problems. However this practice of rejecting individual
plans is not allowed in some states in the U.S. who require that
the insurer provide you with an individual regardless of your medical
Pricing is probably the most baffling aspect
of shopping around for individual medical policies, so it's worth
your while to compare policies. For instance, the premiums for similar
products from different insurers can vary by as much as fifty percent
for the same individual with the same age and expected medical expenses.
No matter what the cost of the premiums for individual medical plans
are always substantially higher than group plans. In addition, people
enrolled in individual plans pay premiums that align with expected
medical costs. As a result, individual medical insurance premiums
are a lot higher for elderly or individuals with a chronic medical
condition. To find out what your rights are with individual medical
insurance, contact your state insurance department. This will help
you choose the individual medical insurance that is best for you
and make objections if you feel that you are being offered an unusually
high premium from a medical insurance company.
Finding the right balance of coverage and
cost can be challenging, but when you are freelance or unemployed
it's an absolute necessity. The first step is to evaluate your needs
and understand your medical insurance options. For some, that may
mean buying COBRA coverage from an employer. COBRA insurance guarantees
that you will receive medical coverage for 18 months after you have
been dismissed from your job. This type of insurance can also help
you when it comes to purchasing individual coverage as most medical
insurance companies raise the cost of premiums for individuals who
have not been covered for more than sixty-three days.
The health insurance market offers a confusing
and various selection of packaged plans designed for individuals.
This is because the laws regarding medical insurance vary from state
to state and these laws are often in a state of flux as new legislation
is gradually passed to make medical insurance available to all.
An independent agent well versed in individual
medical insurance policies can help you sort through your options
and find the policy that's right for you and your family.