How Can I Get Affordable Individual Health Insurance?

With the rising cost of doctor office visits, prescription drugs and hospital stays, health care is a concern on virtually everyone's mind. Most citizens of the United States get their health coverage through a plan sponsored by their employer or through government plans, such as Medicaid or Medicare, but many others must seek alternative options. If you are unemployed and out of benefits, or self-employed, you are on your own. There are many plans on the private market providing individual health insurance but finding a plan you can afford can often prove frustrating and challenging.

Health Insurance Basics

• You should keep in mind some basics as you start collecting quotes. First, be truthful. When filling out your application, you must disclose any pre-existing condition, no matter how small. Hiding the truth could cost you your policy and cost you thousands in uncovered medical expenses later. When shopping around, purchase only those options that you think you are likely to need to protect you or your family.

  Take stock of your own personal health. If you are someone who does not get sick much and has little or no need for prescription drugs, consider purchasing a plan with a higher deductible, or higher co-pay for office visits, drugs and specialty services, such as physical therapy. If after reviewing quotes, you still feel that insurance coverage is too expensive you might want to consider if you qualify for government plans, such as Medicare, Medicaid or even health insurance high risk pools, which are available in 35 states.

Questions to Ask

• While you are investigating your health insurance options, make sure to ask the right questions. Health insurance companies are in the business of profit and asking the right questions might uncover hidden costs. When assessing whether you can afford a health plan, the premium is just one cost but it is a cost you can control. Ask if the deductible can be raised to lower the premium, or if there are other services you can opt-out of to lower the monthly cost. Make sure to ask how claims are paid and how quickly. Most insurance companies base claims on the "usual and customary" but you want to make sure you know how your company works.

  Check on any pre-existing illness clauses. Many private insurers will exclude payment on a pre-existing illness. If you have a chronic condition that you know you will need future treatment, you'll want to factor this into the final cost. Most health insurance companies operate in a network and you'll want to find out about the network and how physicians in your area are participating. The out-of-pocket costs for office visit co-pays and prescription drugs can really raise your annual health care costs, even if the monthly premium is low. You'll also want to ask about such instances as pregnancies, emergency visits, surgeries and other major health care issues that can really put a dent in your wallet.

Watch Out for Scams

• When looking for affordable health care, some people opt for discount health or medical "cards" instead of basic insurance. Be warned, while these cards can provide valuable discounts for people without health insurance, they are not insurance. According to Insurancefraud.org, buying discount medical cards could leave the uninsured vulnerable to major health care bills they thought were covered, or be caught with hidden administrative fees that wipe-out any discounts that might have been given.

  As with any purchase, make sure to investigate all options before buying. The cost of health care can be a huge burden but, by asking the right questions and looking for hidden fees, you can go a long way toward making the right decision for you and your family's health care coverage.