In 2020, the average national cost for health insurance is $456 for an individual and $1,152 for the whole family per month. However, the costs fluctuate according to each health plan. If you understand the basic and difference between health coverage and the costs that incur, you can choose the perfect health insurance for yourself.
What Is Individual Health Insurance?
Many people opt their health insurance plan through a group plan sponsored by their union or employer. But the others buy it themselves. If you’re opting for a health plan yourself, you’re buying it individually even if you include your family members in it. If that’s something you’re looking to go for, read the information below carefully.
Due to the Affordable Care Act (ACA), people now have the ability to purchase their individual health insurance through a marketplace or government exchange. They can also get it from private insurers. However, you might face restrictions whilst buying a individual plan from government exchange to certain times of the year. You can opt for a individual health insurance plan from a private insurer any time of the year. ACA plans are good place to kickstart your understanding on individual health insurance options. In ACA, plans are categorised in terms of ranks: Bronze, Silver, Gold and Platinum.