The Basics of Individual Health Insurance Coverage

For those self-employed, or unemployed, individuals in the market for health insurance, one of the first things typically researched is the coverage, or benefits, various policies offer. Individual health insurance coverage will vary by plan. Regardless, there are a few important things to consider when looking at any health insurance policy. It's easy to make the mistake of assuming that features or benefits exist when they don't. If your assumptions are wrong, you could be left facing insurmountable medical bills.

The majority of valid health insurance policies provide a minimum level of coverage that typically includes major medical expenses such as hospitalization and emergency/urgent medical care. Some of the most sought after additional benefits include annual physical exams, referrals to and treatment by specialists as needed, hospitalization and emergency care, prescription drug coverage, laboratory work including blood testing and x-rays, maternity benefits, prenatal and well-baby visits, vision benefits, and dental care.

Health insurance benefits less commonly provided include mental health care and treatment, rehabilitation services for drug and alcohol abuse, home health care, hospice care, physical therapy, and chiropractic care.

When you are assessing your individual health insurance coverage, remember that health insurance for individuals, as with any insurance, is a gamble. You are gambling that you will draw out more than you pay in. Your health insurance company, on the other hand, is gambling they will pay out less. The best thing you can do is to educate yourself so that you can make the most intelligent choice possible given your own situation.

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