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Health Insurance for Individuals

For those of you who are looking to get an individual health insurance policy for yourself, you may think you'll never understand the process. During your research, you will be confronted with some technical-sounding terms; PPO, HMO, fee-for-service. Learning the ins and outs of health insurance for individuals can be tricky, but it must be done in order to find a policy that meets your needs. This article will explain in simple terms the three most commonly found types of health insurance.

HMO (health maintenance organization) plans are fairly affordable, ideal for those that need individual coverage at a budget price. HMOs pay for most medical treatments, including hospitalization. To be covered, you will pay a set amount, called a premium, each month. If you are looking for relatively comprehensive coverage at a fair price, you should choose an HMO plan. You'll have to go to an in-network doctor or hospital, however. PPO plans are networks of health care facilities, doctors and hospitals, offering care at pre-negotiated prices. In order to receive the discounted price, you will have to choose an in-network doctor, and if your chosen doctor isn't in the network, you will have to pay the cost of care yourself.

Fee-for-service plans are far more flexible than HMO or PPO plans, and they allow the individual to go to any doctor or hospital. However, this is the least affordable option in health insurance for individuals, and plan deductibles are much higher here. Payment is due at the time the service is performed, and then you'll mail in a claim form to your insurance provider.

Hopefully, this short guide has left you with a little better understanding of the health insurance options that individuals have. Now, all you'll have to do is figure out how much you can pay, how much freedom of choice you need, and the insurance needs of the rest of your family, and you will be closer to finding the right insurance plan.