Individual and Family Health Plans
Individual and Family Health Plans
Individual health insurance is, quite simply, coverage that an individual purchases for himself and/or his family. These insurance policies and provisions are regulated by the state where the policy is purchased. Individual insurance is very different than group health insurance, which is the type of insurance offered through an employer.
Obtaining Individual Health insurance no longer requires medical underwriting and no longer has pre-existing exclusions. Generally, individuals and families will need to shop for and/or change their health plan annually during the “Open Enrollment Period”.
Open Enrollment for Health Plans is scheduled for November 1st through December 15th for January 1st coverage.
If an individual or family experiences a “Life Changing Event”, they may be eligible to enroll in a plan outside of the Open Enrollment time period. This is called a Special Enrollment Period and is typically open for 60 days.
Life Changing events include:
Loss of employer group coverage
Expiration of COBRA benefits
Marriage or Divorce
Birth or Adoption of a child
Change of residence state (moving out of the coverage area)
Death of the primary insured
There are more details to look at when shopping for and individual health plan other than just the monthly premium. Researching the Insurance Carrier’s doctor network, formulary, customer service and OUT of Network penalties is very important when making a decision on the right plan for you and your family.