When you're buying individual health insurance, you'll often get sick just looking at the price.
Health insurance is now one of the more expensive items in the budgets of many people.
If you don't have health insurance through work, where the employer pays a portion, it's downright disgusting at the price you have to pay.
In fact, it's so expensive, you almost want to get sick so you can at least use it.
There are ways, however, to save money on your health insurance.
The first is to determine your needs.
Buying individual health insurance requires that you look at three pieces of information before you begin.
The first is your budget.
You need to make certain that you can afford to keep the plan or it offers you no benefit.
The second important step is to look at your pattern of doctor visits.
You'll have different needs depending on how frequently you visit the doctor.
Consider whether your family goes to the doctor frequently, occasionally or once every six years or longer.
There's a plan that fits your medical "modus operandi" and is the best one to use when buying individual health insurance.
The third step is deciding whether you'll want managed care or indemnity plans.
There's a difference between the two types of plans.
Managed care plans, called preferred provider organizations, PPO, point of service, POS, or health maintenance organizations, HMO, require that you go to specific doctors or they don't pay, or pay a smaller portion of the bill.
These frequently have co-pays for doctor visits.
Co-pays are a small portion of the bill you pay when you visit the doctor.
The insurance company picks up the balance.
Indemnity plans are the old-fashioned types of plans that pay any doctor for their services but you often have to reach a specific deductible, an amount you pay out of your pocket, before the company pays anything.
If you have a smaller budget, then consider looking into a managed care plan when buying individual health insurance.
Managed care often costs less than the plans that pay for any doctor.
That's because the companies "cut a deal" with the health care providers on the plan.
They pay less and pass the savings to you in the form of lower premiums.
Step four is to compare the co pays and out of pocket maximums in these plans.
However, if you look for a managed care plan when buying individual health insurance, make certain there are physicians and hospitals close to your home.
This step, step five, is one of the most important.
No matter how much you save, if you have to travel 90 miles for medical attention, the plan simply isn't worth it.
For step six, analyze the potential of an indemnity plan.
Sometimes, you can save by selecting an indemnity plan.
If you go to doctors frequently, you might find that paying the deductible is far better than the constant co-pays you'll have all year.
By paying the deductible up front, such as in an indemnity plan, it only hurts your pocketbook for a while and then gets better by the end of the year.
Finally, step seven is to look for alternative plans.
If you're buying individual health insurance and never see doctors or very seldom, there's an even better way to save money.
It's called a medical savings account combined with a high deductible insurance policy.
Instead of paying the insurance company higher premiums, that money goes into a medical savings account to use for any medical need.
You then select a much lower cost high deductible health insurance plan.
If you don't use the money in your medical savings account, you roll it into the next year.
It grows tax-free as long as you only use it for health related expenses.
This doesn't include buying a television, regardless of whether you watch Doctor Oz or not.
As the money in your medical savings account builds, you can lower your deductible, saving even more money.
So, take a moment before you begin your effort of buying individual health insurance and assess your needs.
Then, make certain you shop diligently for the best price on your family's health policy.
You'll save time in the end and money by looking for the type of plan that fits your family like a doctor's latex glove.