Health reform legislation was signed into law March 23, 2010. New reforms make it safer and easier than ever to buy your own health insurance. Some key reforms for persons buying their own coverage include:
Starting in September 2010:
• Added protection from rate increases
• Added protection
from having insurance canceled
• Better coverage for preventive care
• No lifetime caps on benefits
Starting in January 2014:
• Financial aid to help you buy your own insurance, if you qualify
When you purchase a health insurance policy on your own – for yourself or your family – you’re buying what’s known as Individual and Family health insurance.
Many people turn to Individual and Family coverage because they have no employer-sponsored options, they are self-employed, or their employer-sponsored options are getting too expensive. There are a number of major life events – unemployment, starting a business, early retirement, college graduation – that may require consumers to purchase health insurance on their own. Some buy coverage for themselves only, others for their whole families.