Options for the Uninsured and Unemployed

Last year, monthly premiums for individual policies were $158, and for family policies, $366, according to a survey of the individual health insurance market by eHealthInsurance.com. Nearly three-fourths (71%) of family plans had deductibles of less than $3,000. Generally, the older you are, the more you can expect to pay. Also, women pay somewhat more than men.

Another significant concern for purchasers of individual policies is qualifying for coverage. Not everyone’s application will be accepted, notes Amir Mostafie, consumer health insurance expert with eHealthInsurance.com. While five states (Maine, Massachusetts, New Jersey, New York and Vermont) are “guaranteed issue” and prohibit insurers from denying coverage to applicants who have pre-existing health conditions, that’s not the case in the rest of the country. If you live in a state that’s not guaranteed-issue and you have a health condition, a knowledgeable insurance agent should be able to tell you which insurers are likely to decline your application because of your condition, and suggest policies that are likely to be a better fit, Mostafie says.

It’s important to point out, however, that this is a concern primarily if you don’t already have coverage, Mostafie notes. If, for instance, you’re coming off group coverage through your job or COBRA, a policy should be available.

Finally, once you’ve purchased a policy, spend some time reviewing it, Mostafie says. Granted, not a fun task. However, you want to make sure the coverage squares with your expectations, so you’re less likely to run into unpleasant surprises when you have to use it.