What is Individual Health Insurance, and Where can I find it?

Individual health insurance is medical coverage that can be purchased by individuals who currently do not have health insurance from their place of business, or are "underinsured" by the coverage provided by their employers. There is a common misconception that Individual Insurance is very difficult to acquire, or if you can get it, it is exorbitantly high. While it is true that as an individual you will pay higher premiums then say a business owner who is obtaining group coverage for all of his employees, you can get individual insurance equal to if not better then those with group coverage - at affordable prices. You just have to know where to look for it.

Some of the top names in the insurance industry do sell Individual Insurance plans. Aetna, Humana, Blue Cross and Blue Shield, are just some of the well-known carriers from which an Individual Insurance Plan may be purchased. The best place to begin your search is to find a reputable Health Insurance Agency. It is important that you realize that rates on what an insurance company can charge for any individual insurance plan are highly regulated by the state and federal governments, so the policy you purchase from any insurance company has to have the same price for that company's premium no matter who you purchase that policy from. So the advantage of going through an insurance agency rather than an individual company, is that the agency will have access to any number of companies, and will be able to match you easier to an individual insurance plan that is best for you. If you happen to live in a state like New York or California that has many insurance companies competing for you business, you are likely to find many options and better rates, because of the competitive market. Unfortunately, right now you cannot purchase an individual insurance plan offered by a company outside of the state in which you live. However legislatures are recognizing the value of competition in driving down individual insurance rates and making them more affordable, and that is why The Health Care Choice Act has been introduced to the House and Senate by Senator Jim DeMint (R-SC) and Rep. John Shadegg (R-AZ). Under the proposed legislation consumers would be able to shop for the cheapest policy available to them in all states no matter where they live.

Say you are between jobs right now, or are expecting to start a first job very soon. Another type of individual insurance that many people opt for is a short-term policy. Short-term insurance is now available from many companies and provide "gap" coverage at rates far more reasonable then COBRA insurance. For example a 30-year-old female non-smoker form Coral Springs Florida was able to find a six-month policy with a reasonable deductible of only 250.00 for under 170.00 per month.

There is no doubt that if you are among those that have all or part of their medical insurance covered by their employers, you should consider yourself lucky. And certainly more needs to be done at the legislative level to help those without access to coverage, but with a little research and perseverance it is possible to obtain affordable individual health insurance.