What is an individual health insurance plan?

An individual health insurance plan is a type of health coverage for people who are not part of a group or employer-sponsored health plan. This type of plan is usually obtained through a private insurance company, such as Aetna or Blue Cross Blue Shield, rather than through the government or employer. An individual health insurance plan covers medical expenses such as doctor visits, hospital stays, prescription drugs, medical equipment and even surgery. Depending on the insurance plan, it may also cover preventive care, mental health and substance abuse services, emergency medical services, and outpatient care. In Washington, individuals can purchase health insurance plans either through the state-run health exchange, Washington Healthplanfinder, or directly with an insurance provider. The plans are separated into four tiers, with Platinum being the most expensive and the one with the highest level of coverage, and Bronze the least expensive and with the lower coverage tier. Plans can largely vary in terms of cost, coverage, out-of-pocket costs, and more. Individual health insurance plans are typically more expensive than group health plans, as there is no group cost-sharing or group discounts. However, having an individual health insurance plan is beneficial because it allows you to receive coverage no matter what your employment or economic situation may be. Individual health insurance plans are also a great option for freelancers, self-employed individuals, recent graduates, and those who are unemployed.

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What is an individual health insurance plan?

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