Individual health insurance is once again affordable with MiniMedical.net

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 29, 2009 --

Individual health insurance is the place where one goes when he or she does not have an employer sponsored health insurance. However, where is the starting point of the individual health insurance? While business supported insurance companies garner the efficiencies of scale, providing more benefits with lower premiums simply because of the number of people enrolled, Individual health insurance policies can be an effective way to protect yourself in the case of injury, illness, or disability. Going without medical insurance in these days of increasingly high health care costs can cost you everything you own.

Shopping for an individual health insurance policy can be confusing and more than a little intimidating. By knowing what to look for, what to avoid, and what questions to ask, you can provide yourself with more than adequate coverage, even if you are self-employed, a new employee, or simply seeking more coverage than is provided by your place of employment.

States vary in their requirements and rules, but understanding the basic terms involved with individual health insurance will help you be a more effective insurance shopper and a more discriminating insurance buyer. Your current health status may or may not be grounds for denial of future insurance. This is called "guaranteed issue." "Guaranteed renewability" refers to the insurance company's right, or lack thereof, to cancel your coverage if you become ill in the same way the auto insurance companies cancel coverage for people who have been involved in too many accidents. Ideally, you should try to get a "noncancellable, guaranteed renewable" policy. Second best is a "conditionally renewable" policy that only allows an insurance company to cancel all policies within a specified category, but not yours alone.

Depending upon your state of residence, health insurance companies can resort to "limits on pre-existing conditions exclusions," which may disallow coverage for medical conditions that were in effect prior to your initial coverage. "Portability" refers to whether or not you get credit for prior coverage or if you must wait until completing the standard exclusion period. You will also want to look for an insurance company that offers a rescission period during which time you can evaluate the policy. Normally, rescission periods are 10 days in length. If at the end of this examination period you decide you do not want the coverage, you can cancel your policy and receive your full premium back.

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