A small portion of people in the U.S. buy their own health insurance. Some Americans choose to avoid buying health insurance because they feel they don’t need it, and many eligible working Americans choose to obtain health insurance through their employers. 

However, if you are thinking about buying your own health insurance, it’s imperative to do the necessary research to make sure you choose a plan that is right for you. But to do your respective research, you will need to have the right tools and resources to find all the information you need. Fortunately, you can find all the help you need at eHealth as you navigate the health insurance marketplace.

Here is what you need to know about how Americans approach health insurance so that you can make a better decision of which health insurance plan is right for you.

How many Americans don’t have health insurance?

Before we get into how you can buy your own health insurance, let’s discuss how many Americans are uninsured.

Approximately 31 million Americans are uninsured. Furthermore, statistics show that the number of uninsured Americans has been on the rise since 2017.  The projected population of insured Americans is likely to skyrocket in the coming years, especially with the suspension of the tax penalty for not having health insurance.

Who is most likely to be uninsured?

Various reports show that lower income families and people of color are most likely to be uninsured. The high cost of health insurance has a significant impact on families, noncitizen individuals and a growing portion of people who are reaching the age of retirement may find themselves without insurance. Disabled adults also account for a portion of the uninsured in the United States.

The cost of individual health insurance and family health insurance can be an excessive financial burden to bear for many families, and as a result, they may choose to go without health insurance. However, this can cause negative consequences if health emergencies were to arise.

What are the disadvantages of not having health insurance?

There are a vast array of disadvantages for individuals and families who do not have health insurance. The list is endless, from paying outstanding hospital bills to going wholly bankrupt and exhausting all credit options. 

But in addition to paying high costs for health care, individuals without health insurance are also more likely to face life-threatening health conditions because they are not able to get preventive care.

Another issue is that if individuals incur more healthcare costs, they will spend more on healthcare services as opposed to investing in themselves or their communities. This can lead to underinvestment in critical areas that can create general instability.

Why is having health insurance important?

Health insurance is important because it can keep your overall healthcare costs low and help you optimize your health.

Access to healthcare is critical as healthcare costs continue to rise and going to a doctor’s appointment without health insurance becomes no longer feasible. The benefit of health insurance in this regard is that the returns are immediate. You will likely be able to see the difference between having health insurance and not having it when you go for regular doctor’s visits.

Regular visits to your PCP can also help to account for issues early on and minimize problems sooner than later. Preventative care is highly integral to a higher quality of life. Whether you are going for an annual assessment, immunizations, or specific screenings and tests, if you follow the guidelines of your insurance policy, you can be sure to have the right level of coverage so that you can optimize your health and live a longer, healthier life.

How many people buy individual health insurance?

So now that you’re familiar with the importance of having health insurance, let’s discuss how you can obtain health insurance— specifically if you do not get insurance through your employer.

The majority of people in the U.S. don’t buy their own health insurance. Most people get their insurance through an employer, which is also referred to as group insurance or employer-sponsored insurance.

According to a 2017 Kaiser Family Foundation (KFF) survey, almost half (49%) of people have employer-sponsored insurance.

So, how many people buy their insurance on their own? According to the same 2017 KFF survey only around 7% of people buy individual health insurance.

However, just because you’re in the minority buying individual health insurance doesn’t mean that you’re at a disadvantage, or that it should be difficult or wildly expensive! You just need the right resources to make the decision of which health insurance is right for you.

What are the advantages to buying individual health insurance?

While employee-sponsored health insurance is the norm for about half the population, there are plenty of advantages to buying your own health insurance instead of going through your employers.
Some benefits to getting individual health insurance is:

• Your policy isn’t tied to your job so you can change employers without losing coverage
• While your employer doesn’t split the cost with you, you may qualify for state or federal assistance in order to afford your individual health insurance
• You choose the insurance company and the plan that covers your healthcare needs
• You choose the insurance plan with the network that includes your preferred doctors, healthcare providers, and hospitals.

How much does individual health insurance cost?

According to eHealth’s data, the average monthly cost for health insurance was $440 for an individual and $1,168 for a family in 2018.
These numbers are averages, the cost of your monthly premium may vary greatly depending on where you live, the size of your family, and by other factors of the like.
While most employers will split the cost of a premium with their employee, those buying their own individual health insurance may qualify for government assistance in paying for their health insurance depending on how much they make above the federal poverty line.

What to keep in mind while shopping for your own health insurance

When you’re shopping for insurance, you should look back on the healthcare you’ve received previously. Allow the amount of care you’ve received in the past to help inform your decision on what plan to buy.
For instance, if you take a medication regularly or have required a lot of prescription medications in the past, you may want to look for a plan that has coverage to help you offset the costs of prescription medications.
Consider the type of care you’ve had in the past and the care you may receive in the future (such as certain procedures and surgeries you may schedule in the coming year) when you’re shopping for your 2020 health insurance.

Americans without health insurance FAQs

Why are people uninsured?

Most people are uninsured because of the high costs involved with health insurance. Other individuals may be uninsured because they do not have access through their jobs and don’t know how to obtain insurance otherwise. Some uninsured individuals may feel that they just do not need health insurance. 

There are several reasons why people are uninsured, but if you are looking for affordable insurance options and need assistance, browse the eHealth platform and obtain help from experts.

What are the consequences of not having health insurance?

Individuals who do not have health insurance can suffer from financial risks and are more likely to have a lower quality of life over time due to a lack of preventative care. 

Uninsured individuals can also take on more enormous financial risks if they have to obtain specific services, procedures, and treatments. For example, if individuals have to spend extended time in the hospital, this can create bills ranging from $10,000 or more. Everything from a simple doctor’s appointment to an emergency room visit will be significantly more expensive without health insurance 

How does not having health insurance impact your access to health care?

People without health insurance may not be able to obtain different services that can improve their quality of life. Uninsured individuals will also often receive worse quality of care at a higher cost. Without health insurance, you’ll likely have to spend more time waiting at a facility and face other difficulties in obtaining the right level of care. 

Shop for health insurance with eHealth

Health insurance is a key part of healthcare today. Individuals with health insurance can minimize their overall healthcare-related costs and have more peace of mind regarding their future. 

If you are looking for health insurance today, you have several options: You can turn to private health insurance programs or you can choose government-run exchanges. 

While there is a lot of information out there on health insurance, it can certainly be complex. But eHealth helps to make health insurance straightforward. Our platform at eHealth offers resources, insurance products, and knowledgeable representatives who are happy to help you with your many questions and concerns.

With eHealth, you can find government-funded marketplace plans, and private market insurance health plans to help you decide what is best for your situation. Obtain the free help and resources that you need to simplify your health insurance journey by shopping individual and family health plans with eHealth.