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Understanding Individual Health Insurance Options

The new laws and requirements for health insurance can make the entire process seem confusing.  However, if you take the time to consider your needs properly, you will be able to choose the best health insurance for individuals in Florida.

Subsidies

One important step in finding health insurance is to determine whether you qualify for subsidies.  If you do qualify for them, they will help to reduce your personal costs for monthly premiums, or offer tax credits.  If you qualify for a subsidy, you will need to choose a plan that is approved by both the Florida and federal government.  These plans are designed to make sure that people with existing conditions are able to get the coverage they need.

Private Plans

If you did not qualify for a subsidy, you can opt for private plans.  There are many options for private health insurance for individuals in Florida.  In many cases, private plans may be cheaper than government offered ones, due to the different options available in coverages and benefits.

Why You Need Health Insurance

While health insurance is now a requirement due to Obamacare, there are other reasons for you to consider health insurance for individuals in Florida.  Those who did not sign up for coverage by January 1, 2014 will have to pay a penalty.  This penalty can be either $95 for each adult, or one percent of your annual income depending on which is greater.  These penalties will continue to increase each year until 2016, when they will be 2.5 percent of your annual income, or $695 dollars for each adult.

Beyond the issue of penalties, there are also other reasons for needing health insurance.  This type of insurance will protect you from the exorbitant financial burdens that can result due to a serious illness or accident.  Medical bills resulting from these events can be financially overwhelming without health insurance for individuals in Florida.  These costs can quickly become unmanageable, resulting in you being unable to pay them.   When this happens, many people are forced to file bankruptcy, which has disastrous results on your credit and future financial stability.

Preventative and Primary Care

The new health laws require insurance companies to cover the costs of preventative care, which includes health screenings, vaccinations, mammograms, prostate screenings, and colonoscopies.  These requirements allow illnesses to be recognized sooner, resulting in less health problems and expenses.  The laws also require 10 health benefit standards to help with the costs of primary care, such as emergency care, newborn and maternity care, prescription and outpatient care, and several others.  These benefits help to protect your health, so that your risks are considerably lower later on.

It is very important to understand the options available for health insurance for individuals in Florida so that you can protect your own health, and remain in compliance with the laws.  Choosing the best coverage for your needs will ensure that you are prepared if you ever need medical treatment for illnesses or accidents.

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