7 Reasons Why You Should Have Individual Health Insurance

Individual health insurance plans may actually be your best option. Learn why.

FirstQuote Health Staff
Published on
January 27, 2018
Last Updated on
May 16, 2023
7 Reasons Why You Should Have Individual Health Insurance

If you are looking to get health insurance, you might be wondering which kind to get. After all, there are a lot of options out there. It's vital you choose right when it comes to healthcare because it affects everything else in your life. If you have an extensive medical history or pre-existing conditions, it could lead to financial ruins. To avoid these issues, one of the most important choices you will face is whether or not to go with individual insurance or employer health insurance. Here are 7 reasons why you should have individual health insurance:

1. Your Copay

Out of pocket healthcare costs are the expensive part of having health insurance. Unfortunately, if you go through an employer, these costs can be much higher than they otherwise should. And there are various ways these costs can sneak up on you. The copay is one of these.

This is a payment you make to your doctor or care provider every time you visit. It is typically a flat fee, such as $20. The amount will vary depending on your provider, but with individual health insurance, you have the option of choosing coverage with inexpensive copayments. 

2. Lower Health Insurance Deductibles

Having health coverage doesn't save you from high medical bills, but it can. Are you familiar with health insurance deductibles? If you're not, you can read more about deductibles here. Essentially, if you were to opt for the cheapest health insurance option through your employer, you may be signing yourself up for a high deductible plan, which could keep you on the hook for costly medical bills even after you've paid your premiums. Shopping for individual health insurance plans could save you thousands if you opt for a low deductible health insurance plan.

3. Rising Premium Costs

Your premium in healthcare is what gives you rights to have your healthcare in the first place. It is the monthly payment you make. You might be thinking at this time that the expenses will never end. Welcome to the health insurance market in the U.S.

The Affordable Care Act was supposed to lower premiums and increase choices. Instead, it forced people into higher costs and fewer choices, with a penalty if they didn't bite. So if you're going through the exchange in any way with your employer, your premiums are probably sky high and your coverage even more limited than it ever was before. By using free web-based services like First Quote Health, you will be able to instantly compare plans in your area with the best rates and premiums, instead of having fixed rates in the health insurance marketplace.

4. Surprise! Here's Your Coinsurance

So you've paid your premium, your copay, and your deductible. You're in the hospital or visiting your doctor and you've had a small procedure done. Thankfully, your insurance paid for it right? Not so fast. There is also something called co-insurance. This is often a percentage of the procedure cost that you have to pay, such as 10%, 20% or more. Again, group health insurance plans may be cheaper up front, but finding individual health insurance plans allows you more control over hidden costs down the road.

5. Take Back Your Freedom

When you get insurance through an employer, you give up a lot of freedom. Independence is a thing of the past because you're handing over your medical fate to the whims of your employer. If they decide to switch companies, you have to switch. If they decided to reduce how much health insurance they help you with, you have to deal with it. And worst of all, if they fire you, your health insurance evaporates instantly, unless you look into COBRA.

However, when you have individual insurance, you enjoy a higher level of freedom. You can switch coverage, providers, and anything you want at any time. It puts you in the driver's seat, instead of your boss.

6. Explore Your Options

Your employer has all kinds of rules they have to follow when it comes to insurance. If they want to do something, they have to get it passed by management. This paperwork can get in the way of having access to certain markets. After all, a company in Kansas has to contract with a provider in Kansas, and so on. If you have individual insurance, you can have more flexibility of where your coverage is based out of it. Choosing your doctor, your hospital, and your provider are rights you should cherish. Choice is power.

7. Higher Quality Plans

There's no telling the quality of insurance if you don't have the responsibility for it. If you outsource this to someone else, they may not have your best interests in their minds. However, with your own healthcare, you know you're going to focus on the quality, and quality is the ultimate factor for individual insurance that makes it worth it. Insurance providers offer online quotes, and many of them such as First Quote Health is very reputable.

Long gone are the days when employers provided all the health coverage you would ever need. The old days of the 1950's where one person could work 35 hours a week and pay for the whole family with pensions and long terms stability are over. In today's world, you need to be able to be flexible, lean, and affordable to find the best insurance companies. Going with individual health insurance gives you all of these benefits and more. Don't risk health emergencies by going with the wrong provider. Get individual insurance and enjoy peace of mind. Insurance quotes are more available than ever, so get started today.

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