Can Self Employed Find Affordable Health Coverage?
When you’re self employed, it feels like it’s all you can do to keep your business running. That’s why it’s so important to have some sort of self employed health care coverage to get you back on your feet again in case of illness or injury. As if you don’t have enough expenses, how do you find affordable health insurance? Check out these tips.
The flip side of the perks for self employment is the fact that you need to research and find help for health care insurance and retirement needs. Most companies offer some sort of group benefits that are typically less expensive than individual or family plans on the open market. Don’t despair; you do have some options.
COBRA. Are you leaving a job to work for yourself? The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) makes it so you can extend your employer-sponsored health benefits for up to 18 months. It will be more expensive because your former employer does not need to pay any of the premium amount.
Association group insurance. Group health insurance benefits are often provided as an incentive to join a professional association or other organization. Do you belong to any? Check to see if they have any special group plans that you can take advantage of.
Personal health insurance. Go out and shop for individual or family health insurance on the open market. Plans and rates vary from company to company so you should compare several plans. To make it easy, use a free health insurance quotes Web site so you can view different plans and get quotes all at one place. You can even apply and pay directly online.
Self employment health insurance premiums are now given deductibility status from federal taxable income. Check with your tax adviser about this.
Posted in Healthcare Professionals, Healthcare Services