Finding Health Insurance If you are in a situation where you need to buy your own health insurance – perhaps you are self-employed, a retiree too young for Medicare, or in a job without benefits – you probably already know how difficult it can be to find affordable coverage. Some states, such as Maine, Kentucky, and Washington, have very few insurers even offering policies, with high premiums the result. Other states, such as New Jersey, New York and Vermont, have what are called "guaranteed issue" laws that require insurance companies to cover anyone, regardless of health, but this too drives up rates, even for healthy people. There are several ways to find coverage, but it takes some work. Here are some suggestions for finding the most affordable coverage for you:
- Check with your state's insurance department - via the Web or by phone - to find out which companies offer insurance to individuals. You may also learn about your state's own insurance program.
- Use the Internet to compare prices of policies. Check out both www.ehealthinsurance.com and www.digitalinsurance.com for quotes and policy information. The sites will be most helpful if many insurance companies operate in your state.
- Find a health-insurance broker. These brokers work much like any other insurance brokers, but there are fewer of them. If your own insurance agent does not deal in health insurance, he or she may be able to refer you to someone who does.
- Explore the COBRA option if you recently left a company that provided group coverage. The COBRA law allows you to continue your coverage, at your expense for up to 18 months.
Some states allow self-employed people to form a "group" with as few as one or two people (including yourself), letting you qualify for group insurance rates. These rates can be significantly cheaper than individual policies. You might also look into joining an association, such as a chamber of commerce, that offers group coverage.
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