How to Compare Individual Insurance Plans

When shopping for your own insurance, you will need to compare individual plans to find the one that fits your needs. A good plan will have extensive coverage with a reasonable deductible. Consider both high-deductible health insurance and traditional health insurance options. The plan you choose depends on how healthy you are and the amount of the premium you can afford. Health insurance should save you money on your health care costs.

Instructions

• 1

  Contact a local independent insurance agent for quotes on several different policies available to you. Additionally, you can get quotes online and at healthcare.gov, which provides several insurance options available in your state.

• 2

  List the insurance options by the amount of the monthly premium and the total you will pay in a given year. This is the basic cost of the insurance. Next to the monthly premium, list the deductible amount, and the amount you have to pay in coinsurance until you have reached your out-of-pocket maximum.

• 3

  Add up the total costs of each plan. This means adding the annual premium plus the out-of-pocket maximum, and the deductible amount. Additionally, you may want to consider the co-payment costs for office visits and prescriptions.

• 4

  Check to see what conditions are covered under the health insurance plan. Some individual plans may not offer maternity coverage or mental health coverage. Some plans offer discounts on gym memberships and diet programs as well. This should not be your main consideration, but may help you narrow down a choice.

• 5

  Check to see if your current doctor accepts the plans you are considering. Decide if you are willing to switch doctors for a lower health insurance cost.