| Individual Health Insurance If you are unable to obtain a cheap private medical health insurance through your employer, you should seek coverage under one of many private health insurance plans available out there. Also called private health insurance, this type of coverage is ideal for the self-employed and anyone looking for a wide variety of options and pricing structures from which to choose. After group health plans, personal health insurance is the most widely available form of medical coverage. In most states, individuals can be denied coverage for any number of reasons, so it is wise to request and compare more than one health insurance quote. The extra short-term effort that’s required to apply for individual medical insurance plans is easily worth the long-term savings you’ll enjoy.what can you do? Because of profit-driven practices such as denial based on pre-existing conditions and rescission, options available to the self-employed and others without employer-based cheap health insurance are slim. But there are still options. First, learn how to manage your risk. Decide how much debt you can manage should a serious illness occur, and consider opting for a high-deductible policy. You’ll pay for all your normal medical bills out of pocket and rely on your medical health insurance only in the event of a catastrophic illness. Another strategy is for the spouse of a self-employed person to take a job at a company that provides medical health insurance. Often that job may do no more than pay for the employee’s share of the health insurance and childcare, but at least you are protected from a catastrophic illness. it pays to be truthful So if an agent tries to “help” you by omitting any of your health history, they aren’t really helping you. They are just trying to close the sale. Buyer beware. |