Individual Health insurance is for those who do not already receive health benefits from an employer. Family insurance falls in the same category as paid for by the insured and not through a third party. This insurance will apply for medical visits and hospital procedures, and the plan will pay for a set portion of covered services, leaving you with copayments, monthly premiums, and an out-of-pocket yearly deductible, after which the plan will pay 100%. Without health insurance, an unexpected medical emergency can quickly lead to financial difficulties and dwindle your savings.