Overview of Market for Individual Health Insurance

According to Health insurance survey, the self employed group comprises 10% of the population. Small businesses make up 25% and the uninsured 20%. An estimated 40 million do not have health insurance including approximately 10 million children. Between 10 to 20 % of those not covered are able to afford some premiums that would give some degree of individual health insurance. Affordability is an issue. Some plans can be too costly for individual health insurance diagnosed with a condition. The initiative to purchase individual health insurance will decrease as there has been a consistent rise in premiums at the rate of 10-20% a year. The fact that millions lack access to quality health insurance was easily the biggest domestic crisis facing by nations, and the reforms which have passed are the most significant piece of legislation since Medicare was created in the 1960s.

The vast majority of citizens who have health coverage – about 57 percent – get coverage through an employer-sponsored plan. Another 29 percent get coverage through a government plan – Medicaid, Medicare or the military. If you are self-employed, or if your employer does not offer health insurance, you'll likely turn to the private market to purchase an individual health insurance plan. Getting individual coverage is typically more difficult than qualifying for than a group plan offered by an employer. Policies are individually underwritten, which means that the insurance company will closely examine your complete medical history. Most of these new individual health insurance consumers have sought out insurance agents for help in choosing the right health plan with the lowest possible costs on the private market.