Individual Health Insurance is health insurance coverage on an individual basis. The premiums are usually higher than health insurance coverage on a group basis. Premiums can be paid every year in a lump sum or by the month at a fixed rate. Paying the lump sum yearly premium can save you some money and take out some service fees. It can also leave you eligible for a pre-payment discount.
There are various Individual Health Insurance policies available at present.Short-term Individual Health Insurance covers you for a limited amount of time. It usually provides coverage for six to twelve months which is ideal if you are currently waiting on another individual health insurance plan to begin or if you are currently on-strike or between jobs. A short-term plan is usually in place to cover against illness or accidents, it does not usually cover preventative measures or long-term illness. They do not cover pre-existing medical conditions. Individual health plans can also be indemnity or managed-care plans. Indemnity plans offer more of a selection of healthcare providers but you must pay the medical bills up front and then claim reimbursement from the health insurance company. Managed-care plans generally have pre-negotiated rates with a certain amount of healthcare providers and will submit the insurance claim for you. Managed-care plans are cheaper but indemnity provides more of a choice of health care providers.
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