Since lawmakers have passed the Affordable Care Act, it’s gotten easier to shop for individual health care insurance. Theoretically, all you need to do is visit your state’s Health Insurance Marketplace to compare plans, get quotes and enroll in coverage. But selecting a personal health care plan does require a certain level of contemplation – so make sure you take these factors into consideration when you’re shopping for health care for an individual.
Outline Your Medical Needs for a Personal Health Care Plan
The first thing you should do when shopping for individual health care insurance is to identify your medical needs. If you’re relatively young and healthy, your medical needs may be minimal. If you’re planning to start a family, though, you may need maternity coverage. If you regularly take certain medications, or have a pre-existing medical condition, you need to factor in everything you’ll need your health insurance to cover. Outline your medical needs, and focus on those needs and costs when you’re comparing plans.
Create Your Budget for Individual Health Care Insurance
Figuring out a budget for health care for individual needs is relatively simple. Income, minus expenses, and a portion of what’s left over should go to personal health care insurance. If your needs are minimal, a basic personal health care plan with a lower cost is probably right for you. No need to overbuy. If your medical needs are more complex, though, it’s worthwhile to pay more for individual health care insurance that will cover all of your medical costs.
Walk Through Several Plans
Take the time to fully walk through what your life would be like with a certain personal health care plan. Do it again with a different plan. With the passage of the Affordable Care Act, insurers are required to issue a Summary of Benefits and Coverage, or SBC, that can help you understand coverage and compare scenarios under different health care plans. Take the time to fully understand how each plan would fit with your lifestyle and needs before you make your final decision and enroll in your new health care plan.
