How to Find the Right Kentucky Individual Health Insurance Plan

Knowing when and how to find the right Kentucky individual health insurance plan is crucial when it comes to protecting yourself and your family.

When Individual Health Coverage is Important

You could have coverage under your employer’s group health insurance, but there are many reasons why you should consider purchasing a plan on your own:

• Job loss: If you buy individual health insurance, you and your family would be covered even if you lost your job.

• Financial security: It is always advisable to purchase health insurance coverage for your family members when they are in good health. If you wait to buy coverage after one of them develops a medical condition, you would end up paying a higher premium.

• Choice of medical provider: When you buy a plan on your own, you get to choose the type of coverage and medical provider. Kentucky health insurance companies offer various types of indemnity" or "managed-care" plans. With an indemnity policy you enjoy a much broader selection of healthcare providers than with managed care plans.

• Early retirement: Even if you retire, your family policy will still be valid. This guarantees that your spouse and children are protected even after you stop working. In fact, if you turn 65 and are eligible for Medicare, your Kentucky individual health insurance plan will continue to provide your family with adequate cover - till your spouse turns 65 and your children reach age 26.

Choosing the Right Kentucky Individual Health Insurance Plan

An ideal health insurance plan is one that covers most catastrophic medical expenses, has no dollar limits on important expenses such as daily room charges, types of surgical procedures, and so on, and allows you the freedom to consult specialists without a referral. This is important in emergencies and life-threatening situations.

It is not easy to find a health insurance plan that has all the features that you want, but going by a few pointers can get you closer to your goal:

• Consider "must-haves." Your plan must cover your expected medical needs.

• Cover basics: If you are young and healthy, choose a plan with high deductible (what you pay out of pocket till your insurance company starts to pay). See that copays (the fixed fee you pay for each office visit or medical test) and coinsurance (your share of expenses for prescriptions or hospitalizations) are covered.

• Favored provider participation: See if your primary care physician and the specialists you usually consult are in your plan’s network.

• Buy a plan with an annual cap: Never buy a plan that does not limit the amount that you have to pay out-of-pocket.

• Prescription coverage: Check your plan’s list of medications to ensure that your regular prescription drugs are covered.

In Kentucky, all insurers have to offer a standard Kentucky individual health insurance plan with the same benefits. Certain benefits have to be covered including preventative benefits such as mammograms, pap smears, and colonoscopies. Pre-existing health conditions are covered with some limitations. There is a six-month look-back period. This is the length of time that insurers in Kentucky will review your health history in determining if a medical claim is related to a pre-existing medical condition. The best way to find the right Kentucky individual health insurance plan is by getting professional guidance to review your options.