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Individual Health Insurance Cost Question & Answers

2015 March 29
by Sarah Fields

George asks…

Low Cost Individual Health Insurance – Is It for Real?

I’m thinking about starting a business but I’m worried about health coverage for myself and my family. At work, our health plan is so expensive (if I had to pay for the whole thing), so I’m cautious about the cheap insurance I see advertised all over the place. Is low cost individual health insurance for real or a scam? What do I have to watch out for in looking for coverage? Thanks.

Sarah Fields answers:

Low cost individual health insurance can be for real – just make sure you know what coverage you’re getting first. I’d recommend that you look closely at the level of coverage provided by your employer plan and make sure that the quote you get is close to matching that coverage (unless you don’t need it of course).

Individual plans may be cheaper because they have a higher deductible, or don’t cover certain services (maternity is frequently left off of these plans). Also, with group insurance (what a large employer has), everyone gets the same rate of coverage, regardless of past medical history. This could be why your employer plan is higher cost (if you’re young and healthy). If you’re older and prone to illness, an employer plan could provide huge savings.

These are just a few things to consider. There are actually a lot of additional tips online. Check out if you want to find some additional things to look out for and some good, reputable sites to get quotes from.

Good luck with your business if you decide to go for it!

Linda asks…

Is the real opposition to health care reform?

Any expansion of Medicaid? Once it is in place, it will be impossible to retract, endangering the tax cut program of the GOP.

For all the Constitutional issues raised over the “mandate”, I don’t see much real concern for those who will be forced to purchase individual health insurance. The GOP has never challenged the huge increases in health care costs over the past 20 years, and the wealthy and those with decent jobs will continue to receive their employer provided coverage.

Sarah Fields answers:

The real opposition has been carefuuly crafted by the health insurance industry with the help of the republicans.

Susan asks…

How much will a healthcare insurance for a family of 3 cost?

I am planning to enroll in an Individual & family health care insurance. I wondering how much would a good insurance for Me, My Wife and 1 year old Daughter would cost. I have corporate insurance now. But the company I join doesn’t provide me with one.

Could anyone please suggest any good plans for New York?

I really apologize if this has been answered before.

Sarah Fields answers:

New York has an unusual system of insurance laws which result in very few plans being available statewide. Even for the same person in the same place, one company may charge twice as much as another. As a result, prices may be very different in one part of the state than another, depending on which companies offer insurance there. In any case, while there are good plans for many specific places within the state, none of them are good plans for the entire state. The website will give you prices based on ZIP code, which seem to be accurate, but you may find it more useful for seeing how wide the range from company to company is than for seeing the exact amount you will pay.

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