Self employed health insurance

For anyone who is self employed the subject of health insurance is of interest. Self employed health insurance is essential for those who own and operate their own business. You will not neglect your health just because you do not have health insurance. With the high cost of medical bills you can rapidly get into deep debt if you need to go to the hospital for any kind of treatment. Without self employed health insurance it is almost next to impossible to pay for hospital treatments and medicals bills that can arise out of an accident or unexpected illness.

Self employed health insurance is available for those who do not have access to group health insurance through an employer. Self employed insurance is specifically designed to meet the needs of those individuals who do freelance work or who own their own business. No self employed individual should be without it. You will need it to protect yourself during times of serious illnesses and physical injuries.

When shopping for self employed health insurance you will want to look for the most affordable policies that will offer the most extensive coverage. If you are in the beginning of your self employment the best option for you is to use COBRA if you are eligible for it. This means that you will have left a former employer that allows you to retain membership in his group health insurance plan for a period of time. You will have to be able to pay for your own premiums however. This is the most affordable option for those who are just starting self employment. In the mean time you should be looking for other affordable self employed health insurance plans since this coverage is only temporary.

There are group insurance health care plans for the self employed. You may have to shop around to find a company that offers affordable rates for them. You will need to look for a plan that covers all health care conditions and pre existing conditions. Another option for self employed health insurance needs is to be covered under your spouse’s plan. This option is very common for the self employed. However, this option will only be viable if the spouse works for a company that has a group health insurance plan that allows coverage for the whole family.

If you purchase a self employed health insurance policy you will gain the advantage of a tax deduction. Self employed health insurance premiums are 100% tax deductible. If you have 2 to 50 employees you may also be able to get a cost reduction in your premiums. When looking for a good self employed health insurance plan it’s a good idea to obtain a recommendation from others who are self employed. Those with experience in this field can help you clarify your options. Before you make a decision you should also check out what the benefits would be if you joined a self employed association for your type of business. These types of associations are often able to negotiate deals with certain health insurance providers and you may be able to get better coverage at a more affordable premium price.

When shopping for health insurance coverage for the self employed you may also find it a better option to go with an HMO policy rather than a PPO policy. Make sure you weigh all of your options when talking with representatives of health insurance policies. It is a good idea to compare coverage, premiums, deductibles and life time limit amounts before you decide which health insurance provider to go with.

Last updated on Mar 26th, 2011 and filed under Health Insurance. Both comments and pings are currently closed.

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