What Is Individual Health Insurance?
Individual health insurance is health insurance that insures you in the event that you become injured or acquire an illness. Individual health insurance is a prudent investment if you are selfemployed or work for a company that does not offer health insurance. Buying an individual policy requires careful shopping because coverage and costs vary from company to company. Most individual policies allow you to choose any doctor or hospital and pay for services on a fee for service basis. This means that the health providers receive a fee for each service such as an office visit, laboratory test, or medical procedure. When you buy an individual health insurance policy, you must usually show proof of good health to the insurance company before they will agree to insure you or your family members. Some health insurance providers even require a preacceptance health exam.
Other Health Insurance FAQs
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Q:
What Is Credit Insurance?
A: Credit life insurance pays in the event of the debtor`s death. Credit accident & health (or disability) insurance covers loan payments due while the debtor is ill … More -
Q:
What Is An Agent?
A: An agent is a licensed representative of an insurance company who solicits, negotiates, or effects contracts of insurance and provides service to the policyholder for … More -
Q:
What Is An Application?
A: An application is a signed statement of facts requested by the insurance company on the basis of which the company decides whether or not to issue the coverage. The … More -
Q:
What Is An Assignment?
A: An assignment is the signed authorization by the policyholder for the insurance company to pay benefits directly to the hospital, doctor, or other provider. -
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What Is A Beneficiary?
A: A beneficiary is the person designated or provided for by the policy terms to receive the proceeds upon the death of the insured. -
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What Are Benefits?
A: Benefits are the dollar amount payable by the insurance company to the claimant, assignee, or beneficiary under the policy. -
Q:
What Is A Claim?
A: A claim is a demand to the insurance company for payment of benefits under the insurance contract. -
Q:
What Is Cobra?
A: COBRA is a federal law that regulates group health insurance. If you lose your job and you worked for an employer who has more than 20 employees, you may be able to … More -
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What Is A Co-Insurance Or Co-Payment?
A: This is your share of the bill that must be paid after you have met the deductible amount. This is usually 20% or 30% of the costs up to a specific … More -
Q:
What Is Conversion?
A: Some insurance companies offer their policyholders conversion privileges that allow you to convert group coverage to individual coverage without showing proof of … More
Insurance Sub-categories
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Auto Insurance
Home Owners Insurance | Life Insurance |
Medicare and Emergency Treatment
Medicare and Emergency Treatment
Your Rights to Mental Health Benefits