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Individual Health Insurance

If your employer does not provide you with health insurance, or maybe you are self-employed, an individual health insurance plan may be the way to go. Health insurance for individuals is usually more expensive as opposed to a family or group plan, or one your may receive through an employer. This is usually the reason why so many Americans remain uninsured. Health insurance companies justify their rates by using a concept called a “risk pool”. A business owner with 50 employees, would be classified under a large risk pool. The healthier the pool’s inhabitants are, the more money insurance companies make. Their premiums are only used to pay the claims of a small number of ill individuals. The premium cost is spread accordingly amongst each policy holder. The larger the number of policyholders, the lower each person’s premium will become. Individuals shopping for health insurance are automatically placed in the much small, low risk pool. This is because their claims will be theirs alone and cannot be spread amongst any other members because there aren’t any. When purchasing individual health insurance, you are required to be screened at a higher level than those in a plan, everything from your habits to your weight is a factor. Pre-existing conditions such as chronic illnesses are often times overlooked by group plan providers, but that is not the case with individual plans. The screenings go much more in depth, which is why having several options is the best way to go. Coverage One provides you with health insurance quotes for you to compare coverage and prices and decide which option is best for you.