Today, many people get their health insurance through their employer. But every year, more and more people are choosing to shop in the private market for individual health insurance. For some individuals and families, there are many advantages to individual health insurance over employer health coverage — such as affordability, portability and customization.
Whether you’re a single individual, have a family, self-employed, a student or you’re just looking for the best health insurance plan for your needs, you might want to consider a personal health insurance policy. At Henry Insurance Service, we compare individual health quotes for you and a licensed health insurance agent can help guide you to the right decision for you or your family.
Types of Personal Health Insurance
Many health insurance shoppers don’t realize that there are many different types of health insurance. But it’s a good thing there are so many options because no one has the exact same health and budget needs as another.
There are two main kinds of individual health plans: managed care and traditional indemnity coverage:
- Managed care health insurance. This type of health insurance covers medical services from a specific network of doctors, hospitals and other health care providers. Common managed care plans include HMO (Health Maintenance Organization) plans, PPO (Preferred Provider Organization) plans and POS (Point of Service) health plans. With managed care plans, some policyholders can also open Health Savings Accounts (HSA) to save money tax-free for medical bills.
- Traditional indemnity coverage. Before managed care plans were created, traditional indemnity health insurance was the most common form of coverage. This type of health insurance covers medical care based on service rather than health care provider.
The main difference between these two forms of health insurance is that traditional indemnity plans provide the same coverage regardless of what doctor or hospital you visit, while managed care plans offer coverage which can differ based on the specific provider you choose at the time of service.
Comparing Plans from Multiple Health Insurance Companies
One of the biggest advantages personal health insurance has over employer coverage is the immense number of choices. With an employer, you might only have one or two plans to choose from. Not in the individual market — it offers hundreds of different options, each with varying benefits and rates.
With Henry Insurance Service, you’ll be able to compare multiple plan options from many health insurance companies. We represent numerous insurers including Blue Cross Blue Shield, Assurant, UnitedHealthOne, Humana, Coventry and many more. See our partners page for a more comprehensive list of insurers that we work with.
Each insurance company offers unique health insurance solutions, giving you a wealth of options from which to choose.