Whether you have left a job that provided group health coverage, just got dropped off of your parents plan after college, or are self employed, there are several different plans for you to choose from. The common myth among consumers is that you will not be approved for an individual policy if you have preexisting conditions. This is simply not true. There are so many options out there for those who have conditions or previous hospitalizations. Let us discuss some of the individual health insurance options out there.

First of all, there are some plans that have low deductibles that only require small copayments for doctor visits, hospitalization, prescriptions, and more. If you can afford this type of individual health insurance policy (the rate depends on health, age, number insured and other factors), this is probably the best plan to go with. Just make sure that you’re fine with the maximum coverage (ie the maximum amount the insurance company will pay out) as well as other discrepancies.

If you find that you don’t qualify for or cannot afford the type of plan above, that’s ok. There are several more individual health insurance policies out there. Some of them require that you pay a certain percentage when it comes to your doctor, hospital, and prescription bills. This is still valuable because the insurance company will usually pay over half of the normal cost for these products and services. While I’m on the subject of different types of plans, I’ll mention there are some plans that do have an unlimited maximum coverage amount. As you can imagine, these can get quite expensive. If you’re still finding the percentage policies to be too taxing on your wallet, consider individual health insurance plans with higher deductibles. Sure, this means more out-of-pocket expense for you and your family, but you’re still covered up to usually millions of dollars for catastrophic illnesses or events that could land you an expensive and extensive hospital stay.

Over 60% of bankruptcies in the United States stem from medical bills or something related to a medical illness. Don’t let that happen to you and your family. Protect them before an incident or illness by getting individual health insurance coverage from AXS Health.

Tags: deductibles, health insurance policies, individual health insurance