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Explaining Individual Health Insurance [Video]

Written by: PeopleKeep Team
November 18, 2014 at 2:00 PM

Now more than ever, people are buying individual health insurance. In fact, it is expected that 31 million Americans will be individual health insurance policy holders by 2020. And with the recent opening of the Health Insurance Marketplaces, it’s important to understand that individual health insurance doesn’t have to be complicated for you or your employees.Explaining individual health insurance

You’ll feel more informed if you take a few minutes to understand how it works. Kaiser Family Foundation (KFF) has put together a video to help you understand individual health insurance in basic terms and illustrations.

Explaining Health Insurance Video - Key Points:

  • Understanding your healthcare policy is important to your health and your wallet.
  • Employer insurance is a combination of your employer paying towards your premium, and the rest is paid by you.
  • If you’re insured through Medicaid, you don’t pay any premium.
  • Premium tax credits are available through the new Health Insurance Marketplaces, and lower the premium cost for many Americans
  • When you need medical care, different types of insurances will dictate what is covered.
  • It is important to know what is covered under your insurance including your co-pay and deductible.
  • Know your provider network and stay within it.
  • It’s important to understand the various plans offered and what best fits your unique needs.

Tip: As an employer, if you currently do not offer insurance to your employees, you can offer them individual health insurance reimbursement as an alternative.


See, individual health insurance isn’t that complicated is it?

If you can keep these key points learned in the video in mind as you and your employees begin to shop around on the 2015 marketplace, you’ll be an informed buyer. You’ll save money, time, and potential headaches in the future when dealing with your health insurance.

What do you think of the video and the points that were covered? Did it help? Leave a comment or question below.

 Video credit: KFF

Topics: Individual Health Insurance, Health Insurance

Additional Resources

Trying to decide which HRA is best for you? Take our quiz to find out.
Get our guide on how to offer health benefits with a small budget.