Individual Health Insurance

Individual health insurance plans are a practical solution for many Americans.

An individual health insurance plan has many advantages and disadvantages that can sway potential customers in their pursuit of adequate, affordable health care coverage. In a private, individually purchased health insurance policy, the insurance company can never arbitrarily cancel a policy for any reason. The only acceptable reasons for an involuntary cancellation of a policy is failing to pay the premium, or if false information is discovered on the enrollment application. Both federal and state laws enforce this policy. This is done to protect the interests of the consumer, in order to prevent insurance companies from illegally canceling the policies of patients with expensive, and time-consuming illnesses. There is also more flexibility with an individual health insurance plan than there is with a group, or family health insurance plan. Insurance companies often have a wide variety of health policies, each tailored to the needs of certain groups of people. Insurance companies have plans for every budget. For example, some plans may include dental and vision coverage while others may not. Some plans may focus on long term disability care, while others are geared towards general coverage. It all depends on the general needs, wants, and desires of each individual person, who's trying to find the individual health insurance plan that works best for them. In an individual health insurance plan, the insured party has the power to make decision regarding their health care, and aren't left to the mercy of an employer watching his bottom line, or a government agency losing its operating budget. If an insurance company raises its rates, the insured party has the right to find a different insurance company. The same is true if the insurance company provides poor customer service, or if the insured party's doctor doesn't accept a particular insurance plan. These are all acceptable reasons to cancel a plan with one insurance company in order to seek out another company whose plan better suits the customer.

There are however some disadvantages to an individual health insurance plan. In most states, there is a lengthy and time intensive application process. The insurance company has medically underwritten individual health insurance. They therefore will inquire into the medical history of family members. They want details, and the potential insured party must be prepared to answer them, and answer them accurately. If an incorrect answer is given, the policy may be terminated at a later date. Insurance companies typically take several weeks to evaluate a potential application. This amount of time can be exponentially increased if the company wants to look at the medical records of family members, to evaluate if the individual is at risk for any conditions that can be determined by family history. There are a few states, such as New Jersey, Massachusetts, and New York who has a guaranteed issue policy, in which health insurance is granted without medical underwriting. Critics often complain that health insurance companies are too selective with whom they select, and tend to deny far too many people under strict policy bylaws.

Summary: Individual health insurance plans can offer a cost effective solution to the many uninsured Americans seeking coverage.

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