Individual Health Insurance

Individual Health Insurance

Illinois Individual Health Insurance

When shopping for individual health insurance in Illinois the shear variety of individual health insurance plans that are available to you and your family can leave you feeling a bit overwhelmed. Many questions can arise.

  • What type of individual health insurance coverage do I need?
  • How do I choose an individual health insurance provider?
  • Will my doctor accept my new individual health insurance policy?

These questions and the many others you will ask on your journey to finding the right individual health insurance plans definitely need to be answered and it is important to know where to find the information.

Choosing your Illinois individual health plan isn’t only about getting the right coverage, it’s also about finding the right price. And individual health insurance in Illinois is actually more affordable than you think. Just compare rates from leading Illinois health insurance carriers to see for yourself.

What Kinds of Individual Health Insurance Plans Can I Choose From?

There are plenty of Illinois individual health insurance plans to choose from. Here are the most common types:

PPO Plans

PPOs (Preferred Provider Organization) . The PPO is an affordable Illinois individual health insurance plan with an added benefit. You’ll have coverage with any health care provider. That means you can see any doctor or specialist you want, and your plan will cover the care. The PPO is great for flexible, comprehensive, and affordable health care.

Advantages of PPO plans

There are many advantages when it comes to PPO plans. For example, you have more flexibility when choosing a physician in contrast with an HMO plan, which tends to be very strict regarding choice. With a PPO healthcare plan you are also able to go to a doctor who is out-of your network and still be somewhat covered. You will be responsible for out of network rates to see “out of network” doctors, but still you are entitled to do so. Another advantage of PPO plans is that you do not need to choose a Primary Care Provider or referring physician. This means that if you are interested in going to certain specialist, you may do so. The out-of-pocket costs per year in a PPO healthcare plan are limited, which can be really beneficial; that way you will be completely aware of the cost per year for medical expenses.

Illinois Health Savings Account (HSA) Plans. Health Savings Accounts are options.  There are two parts to HSA coverage: a high-deductible plan and a Health Savings Account. The high-deductible plan provides catastrophic coverage and features low monthly premiums. The HSA is a tax-free savings account where you save money to pay for routine medical expenses.  If not used, these funds roll over from year to year.

Understanding the Cost of Illinois Individual Health Insurance Plans

Which health plan costs do you need to know about your Illinois individual health insurance plan?

Your premiums:
Your premiums are payments you make to keep your plan in effect. Usually, premiums are paid each month. Premiums are set by your Illinois insurance company based on factors such as health status, age, where you live, and where you work.

Your deductible:
The deductible is the dollar amount you’ll be responsible for before your plan begins coverage. Most individual health insurance plans let you choose your own deductible, so how do you choose the amount that’s best?

It might seem like a lower deductible would be better. But a low deductible means you’ll have to pay higher monthly premiums. It works the other way too — the higher your deductible, the lower your month’s bills. You’ll have to decide if you want lower monthly premiums or lower medical bills for your health care.

Copayments and coinsurance

If you have an individual HMO, you might pay $15 at the doctor’s office for a check-up. That’s called your copayment. You pay a certain dollar amount of the bill and your plan covers the rest. HMOs offer copayments as low as $10, while individual PPOs often charge copayments of $40 or less.

Coinsurance is similar to a copayment, except it’s expressed as a percentage rather than a dollar amount. A coinsurance rate of 80/20 means you’ll be responsible for 20% of a medical bill.

Which Individual Health Insurance Plan Is Right For Me?

As you look for an individual plan, you might be asking yourself: What plan is right for me? Which plan do people like me choose?

If you’re a person who is in good health, you might want to consider a high-deductible PPO that’s compatible with a Health Savings Account. This option is best for people who don’t visit the doctor often, and are looking for major medical coverage.

If you’d rather have more comprehensive individual health insurance coverage in Illinois, such as preventive care coverage, consider a PPO or HMO plan with a lower deductible. You might not be able to use an HSA, but you’ll have coverage for routine doctor’s office visits and other preventive care. Typically, you’ll pay between $10 and $40 for a doctor’s office co-payment depending on your plan. With this type of plan, you’ll also have major medical coverage.

Even if neither suggestion seems right for you, there are plenty more options to choose. What’s the best way to find out which Illinois individual health insurance plan is right for you? Get free quotes and get expert advice from a professional agent.

Just fill out a simple form to get free individual health insurance quotes right now. And don’t worry, you have no obligation to buy anything, and it’s 100% risk-free.

Selecting the insurance that is right for you can be a complicated process. We are here to help you.

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