Cooking Zone

Individual Health Insurance And Premium Payments

April 28th, 2008

The buyers of individual health insurance range across the age spectrum and the gender. The percentage of the individual coverage has been seen to in decline over time. It has been observed that the retention rates do not vary gender wise. The younger purchasers of individual health Insurance tend to hold the policy for greater time period than the older purchasers. Different people apply for different types of insurances. The distribution of applier s hence also varies. The individuals who apply for individual health insurance can be those who are either between the jobs, looking for a job or people who have shifted to a new job.

People find the individual health insurance more affordable than the group health insurance or the continuation coverage. There are also the people like the self employed, retirees and people whose employers to provide them the health benefits, who also apply. It has been observed that unlike the group health insurance, the premiums of the individual health insurance vary with the age of a purchaser. There is a great premium difference between the older and younger generation. The older generation gives higher premium payments which reflect that people have higher health care costs with time. People also pay higher premiums for group health insurance whereas for the individual health insurance it is lower. The premium for individual health plan also varies around the country. It is also a fact that the older purchasers enroll in high deductible plans on the other hand the younger generation enroll in lower deductibles.

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