Individual Health Insurance Plans

Individual Health Insurance covers the medical expenses of only one person or family. Unlike group insurance, you purchase individual insurance directly from an insurance company. When you apply for individual insurance, you are evaluated in terms of how much risk you present. This is generally done through a series of medical questions and/or a physical exam. Your risk potential determines whether you qualify, and how much your insurance will cost.

What will the insurance company want to know?

Before issuing an individual insurance policy, the insurer will want to know everything about your personal health history. It is unwise to try to hide a pre-existing condition from your insurer, since many insurers use information from the Medical Information Bureau (MIB) to determine whether an applicant is insurable. If the insurer doesn't want to cover a particular health condition, you may still be able to get a policy with an exclusion rider.

What are the benefits of individual coverage?

Lower Rates: If you are relatively healthy you can almost always save money on monthly premiums by selecting an individual plan over a group plan.
Choice: You are in control and can select the insurance company and the benefits best suited for your needs.
Portability: With your own individual plan you are not subject to cancellation as with group plans should you change jobs.