Most of the time, companies offer health insurance premiums as part of their employee benefit packages. But what if the insurance package offered isn’t a good fit for you and your family’s needs? Or maybe you’ve decided to try being your own boss, and now you need insurance help since you’re officially self-employed. In either case, you’re one of many Americans switching from group coverage to individual health insurance.
How to Get Started With Individual Health Insurance
You can sign up for individual health insurance independent of any employer’s group policy via your state’s health insurance exchange.
Under the Affordable Care Act, every state must have an exchange where consumers can compare and choose individual health insurance plans.
However, before you dive in, make sure you follow a few essential steps:
- Step 1: Know what you need. Individual health insurance isn’t as simple and clear as finding a “good policy” from among all the “bad policies.” Individual health insurance isn’t a one-size-fits-all situation. Different policies will be better for different individuals and their unique health needs. Know exactly what you need from individual health insurance and what you’re willing to pay. Then you’re ready to look for a policy to match.
- Step 2: Understand your policy now, not later. Never rush ahead with individual health insurance, even if you’re tired of comparing plans. Getting a policy that doesn’t offer the specific coverage you need is going to leave you frustrated at a time when you’re already stressed with health issues. Read carefully and make sure you understand exactly what you’re getting before you sign up.