Individual Health Insurance: Choose Your Plan

We have all heard about HMOs and PPOs and other types of health care options, but most of us don't really know what type of plan would be best for our needs. That's why it's important to know what's available.

One option is an indemnity plan. This type of health insurance for individuals gives you more flexibility because you can choose to work with any doctor of your choice instead of being limited to a particular network of physicians. Usually, you will need a primary care physician who will handle most of your routine care and who will refer you to specialists as needed.

Another type of health insurance for individuals is a managed care plan. These plans come in three common varieties: HMOs (Health Maintenance Organizations), PPOs (Preferred Provider Organizations), and POS (Point of Service plans). When you are in a managed care program, you will need to work with an in-network physician if you want most of your costs covered.

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Individual Managed Care Plans: Which Option is Best for Me?

HMOs, PPOs, and POS plans are all types of managed care, but they do have their differences. With an HMO, you will choose a primary care physician who handles the majority of your care needs. These plans also tend to emphasize prevention and wellness. You normally won't have to worry about coinsurance and deductibles, but you will be expected to make co-payments for doctor visits and prescription drugs.

If you're interested in individual managed care plans that provide more physician choices than HMOs, you may want to consider a PPO or a POS. With both types of plans you will need to meet deductibles and cover a portion of your own medical costs (i. e. coinsurance). The main difference between these two is that with a POS you will have a primary care physician arranging and approving your additional treatment. With a PPO, you won't.

Health Care for Individuals: Finding What's Available

After you've done your homework and determined which type of personal health insurance you're interested in, you'll need to find a provider in your area. The Internet is a great way to start your search because you'll be able to easily compare what's available and choose an affordable individual health care plan. The bottom line is you need to do your research in advance so those comparisons will make more sense and so you won't feel overwhelmed by your individual health care options.