Kids and Health Care: Buying Individual Coverage

If your employer does not provide health insurance -- or if you're self-employed -- you can purchase insurance on your own. Unfortunately, you'll wind up paying more for your own insurance than an employer or other group would -- since insurance, like most other things, is cheaper by the dozen.

Another option: Health insurance through a group. By becoming a member of a trade association, labor union, alumni association, church group, etc., you'll be eligible for any member benefits provided that often include health insurance at reduced costs.

If you do have to seek coverage on your own, you'll want to shop around for the best coverage at the best price. Speak with your colleagues or peers about their experience and how they've obtained coverage -- especially if they're not getting it from work or through a spouse. You can contact an insurance company directly, or you can go through an agent. This will help you find the best overall deal. You also will want to check with your state insurance department to see if there have been any complaints about the insurance companies you're considering.

You can even check out the insurance companies' financial stability ratings. A.M. Best Co. rates each company on a letter scale from A to F, in order to provide an overall indication of the company's ability to meet its policyholder obligations. Their ratings are based on financial strength, the company's market profile and operating performance. For instance, A++ and A+ indicate Superior while F indicates the company is in liquidation. These ratings can be found at your local library or online.