Individual Health Insurance

Currently, there are just under 50 million working Americans who do not have medical insurance for themselves or their families. The health insurance industry studies have shown that, for these individuals, either insurance was not offered to them through work or their part of the premium passed onto them made health insurance too expensive to retain.

As health insurance cost rise, many employers have made the difficult choice to either drop medical coverage as part of their compensation package or to pass most of the cost related to health insurance premiums on to their employees. The result has been a steady increase in the number of workers who do not have or choose not to have medical insurance.

According to the Census Bureau, the number of uninsured Americans continues to growwas considered a lower income or poverty problem has now reached into middle class America.

A possible solution for individuals looking to purchase health insurance may be on the horizon.

Approximately 7% of Americans with medical insurance are insured privately. That number is expected to grow, as is evident by an increasing number of large health insurance companies that are positioning themselves to meet the expected need for individual insurance.

To help individuals afford private health coverage, the White House has been promoting tax credits to help offset the cost of medial coverage.

Also HSA’s (better known as Health Savings Accounts) have become open to the public. Once only available through your employer, an HSA allows you to put money aside for healthcare costs and choosing an individual health insurance plan with a higher deductible. This in turn lowers your monthly premiums.

While this may lower the cost of offering group health insurance as part of their overall compensation program for employees, the purchase of these policies must still be blanket in nature and benefit the diverse needs of various employees. For the individual seeking coverage, this could prove to be an expensive option as the designated plans are also geared toward employees with families.

People seeking individual health insurance should consider enlisting the aid of a professional insurance agent. Professional insurance agents are familiar with the health insurance companies and the latest insurance policies that are available from these insurance providers at a variety of budget levels.

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