Affordable Health Insurance Options for Individuals and Families

Shopping for health insurance is a serious financial decision and can be a bit overwhelming. There are literally hundreds of options to choose from and much of the verbiage carriers and agents use is unfamiliar to most. How is a person supposed to compare hundreds of options in terminology that’s difficult to understand, ultimately feeling confident in their decision? And who has an abundance of free time to dedicate to this process?

There’s no easy answer but you need to start somewhere. One helpful option for health insurance shoppers is to find a broker they trust who will take the time to explain everything and answer all their questions. Brokers also have the ability to compare plans and pricing from multiple providers via online quoting software.

Health Insurance Plans to Fit Your Needs and Budget

You should also conduct your own research to understand affordable options that fit the specific needs and budget of you and/or your family. Here we have provided information on several different types of Health Insurance options for families and individuals:

• Health Maintenance Organization/HMO Insurance Plans
• HMO’s are common and very popular plans. Each HMO consists of a network of healthcare providers, so all the doctors and hospitals that are “approved” within the network. Each insured person or family is assigned a primary care physician whose role is to oversee their general medical care.
• When specialists or hospitalization is necessary the primary care physician will refer patients to an appropriate doctor “within network,” meanwhile typically helping to coordinate appointments/treatments.
• The aim of the HMO plan is in the name: health maintenance. It works on the principle of prevention being more valuable than a cure. As such, regular check-ups with your primary physician are encouraged, so that any problems or troublesome conditions that arise can be quickly addressed and treated before they become worse. A general practitioner is usually capable of treating many conditions but, if the situation requires it, he or she will refer patients to the appropriate specialists.
• Preferred Provider Organization (PPO) Health Insurance Policies
• The Preferred Provider Organization (PPO) health insurance policy offers a high degree of flexibility. Whereas the HMO plan forces policyholders to seek treatment only within the insurer’s “network”, the PPO will cover some out of network healthcare expenses (however it is still more costly to use “out of network” healthcare providers and/or hospitals).
• Another advantage of having PPO health insurance is policyholders are not required to visit their primary care doctor before seeking help from a specialist. This saves time, cuts down on office visits and could potentially speed up treatment.
• Short-Term Health Insurance Coverage
• A short-term health insurance policy is typically purchased to provide coverage for a set period of time. On average, short-term health insurance plans are typically less expensive than other plans, and they have fewer out-of-pocket costs. They are ideal for people seeking immediate health coverage. The majority of short-term policies become effective within a day or two after the insurance has been purchased.

Many factors will play a role in determining what’s right for you - your current and/or past health status, prescription medication needs, monthly income/budget, and even doctor and hospital preferences.

Compare Your Health Insurance Options and Save

It’s pretty straightforward: anytime you are shopping for something (including health insurance) it is beneficial to “shop around” and compare prices. When comparing multiple rates and options from different health insurance carriers they are competing for your business.