The Individual Health Insurance Plan

Health insurance provides us with a financial safety net in the event of injury, or accident. Depending on the policy you have, your health insurance plan covers some, most, or all of your medical expenses. While most workers receive some sort of health insurance through their employers, there are circumstances where workplace, or other group coverage options are not available. To protect themselves, those people without any group insurance option must consider an individual health insurance plan.
Here are some examples of situations in which an individual health insurance plan may be necessary.
Self-Employed People
Just like anyone else, the self-employed person needs to have health insurance, and an individual health insurance plan is usually the only option. Many self-employed persons are, in fact, the only employee in their company, and as a result are unable to take advantage of group rates. However, through careful rate shopping, and comparison, they can find an affordable individual health insurance plan.
Discharged Employees
Aside from a sudden loss of income, one of the biggest concerns about being discharged, or laid off, is the loss of health insurance. In the United States, many laid-off employees continue to be eligible for their group health insurance coverage under their old employer's plan. They take over the paying of premiums, rather then their employer paying for them. However, the laid-off employees are limited in the length of time that this allowed. Should the employee be ineligible for health insurance continuance, or is out of work beyond the allowed time, an individual health insurance plan may be the only remaining option.
Already suffering from the loss of income, the out of work employee will likely not want to spend any more money than necessary. In this case, a very basic individual health insurance plan should be purchased. After all, some coverage is better than no coverage. A catastrophic illness, or injury could possibly result in bankruptcy. Even basic individual health insurance can provide some financial safety.
Part-Time Employees
Company-paid health insurance coverage is usually limited to full-time employees. Those employees who are part-time should look into individual health insurance. Cost-effective plans for individual health insurance are available.
There is an individual health insurance plan for almost any budget. The hardship, and potential for disaster, is not in paying for the plan, but in living without it. Sort of like playing "medical russian roulette." It is not worth the risk to go without any health insurance. Even if you are in the best shape of your life, a car accident may only be a few feet away, a natural disaster can occur at any time, tornadoes can appear without warning, etc. You get the idea! An individual health insurance plan is one of the best financial safety nets an uninsured individual can consider.
Copyright 2006 Carl DiNello