If you find yourself in the position of shopping for an
individual health insurance policy, there are certain things
you’ll want to keep in mind. Whether you are coming out of
a job that covered you before, or are at the end of your
COBRA benefits, or simply have never had coverage before
there are things you can do to get coverage on yourself and
your loved ones.

The basic thing to know is that if you have a shot a group
health insurance, whether through a job or an association
you’re a member of, that is usually much more affordable
than buying individual health insurance on your own. First
you need to figure out your health insurance goals; in other
words, what are you after? If you’re young, healthy as a
horse, no dependents and not attempting Mt. Everest next
week, you may want to opt for a policy that covers only the
catastrophes, and cover the rest out-of-pocket. On the flip
side of that, if you’re the sole bread winner with a family
to support, the scenario is different.

The basic choices you’ll have are Fee-for-Service, Managed
Care Plans, and Association-based health insurance. Fee-for-
service is the traditional indemnity plan, harder to
acquire, more expensive, but usually great coverage.
Managed care plans include most HMO’s and PPO’s. These offer
lower costs but your choices are somewhat limited. Another
way to get insured is through a group or association you
may already be a member of, such as professional, religious
or trade organizations. Often they may offer health
insurance. It’s worth checking out, as sometimes you can
strike gold in this vein.

Things to consider when you’re looking for any policy are
what’s covered on this plan, how much are the monthly
premiums, what is the yearly out-of-pocket, what is the
deductible, how much are office visits, does it cover
preventative medicine, vision, dental? And I’m sure you can
come up with many of your own. Sit down before you go
shopping and make a list of your needs and wants, and decide
in advance what you’re willing to give to get. Be aware that
once you start getting quotes they can vary as much as 50%
for the same person! Remember, you’re shopping, and nobody’s
making you do anything. If one insurer isn’t cutting it,
move on to another. If you’re coming at this cold and have
no good recommendations it may be wise to use a broker who
represents several companies, as he or she wil be more
likely to find the best policy for you, as opposed to
selling the company they work for.

Shopping for individual health insurance can be
frustrating and time-consuming, but if you come armed with
facts you’ll be able to navigate this highly competitive and
ever-changing field.

Keith Thompson is the webmaster at health Insurance Plans, a
site geared toward helping you find great individual health
insurance!

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Many economists have suggested and recent economic data indicates that the economy is steadily moving in the right direction. A combination of several factors has no doubt had a negative impact on the economy over the last several years.

The recent state of the economy, combined with the increasing cost of healthcare, has made it difficult for all size employers to continue to offer the same level of employee benefits. In the case of health insurance, future plan modifications may be necessary over the next few years.

After much consideration, these modifications may take the form of increasing deductibles, out of pocket maximums, office visit copays, and prescription copays. Employees may also be required to increase their contribution amount. A vast majority of employees understand the current strain facing employers. Employees are particularly aware of the difficulties faced by medium and small business owners.

If you find that plan changes are inevitable, several aspects are very important to pay attention to when modifying your group health insurance coverage. Modify the parts of your plan that provide a savings while having the least impact on your employees. Make sure the changes are fair to both the employer and employee. Develop and execute a strategy that clearly communicates the plan changes as well as the reasons for the changes.

When the outlook for your business does improve, your organization’s ability to capitalize will greatly be dependent on your ability to attract and retain productive employees during difficult economic times.

Michael Ertel is the President of Ertel & Company, Inc. and has over 15 years of experience in the health insurance business. He is the founder of http://www.MedicalInsuranceNow.com which is an internet based service that assists individuals, families, and small business owners by providing side by side comparisons of health insurance alternatives and the convenience of applying for health coverage online.

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