Self Employed? Health Insurance Options

By Keith Londrie

If you are working in a big company there will be a group health insurance policy that you can join. This way, your health insurance costs are likely to be lower than the costs connected with private health insurance plans. However you are self employed and have to make your own arrangements in order to get decent medical insurance plan.

The first thing you can do is to check if you can keep your current plan. Many employees leaving their jobs are offered the opportunity to keep their health insurance policy for a limited period of time. Even though you will have your previous insurance for a limited period of time, it is better than being with no insurance at all and you can use the time to find another way out.

Do not waste time and start looking around for a new health insurance policy. Make a proper research. There are many health insurance plans available and it may turn out that some of them are good in your circumstances. Most of the health insurance companies have websites too so you will need less time to do the research. You will be able to ask for a quote online and compare the conditions with each company. Do not
forget though that you should stop by
the respectable companies only.

When comparing the available medical insurance plans pay attention what each one covers. There is no need to buy an expensive plan that covers regular dental checks or prescriptions for example. Try to find one that covers serious illnesses beyond the routine situations.

Make a monthly budget and allocate some money for health care. You can open a health care savings account to reduce the taxes. Put there some money each month and use them for medical emergencies.

If finding health insurance as a self employed turns to be a hassle, try to find a group plan you can join. There are many professional and trade organizations that have group health policies and you can join one of them. Even though their plans are not what you have imagined it is still better than nothing.

If you are married, check if you can join the health insurance policy of your partner. This will increase the premiums you will have to pay but it will be cheaper than buying a separate medical insurance. Moreover in some occasions you can get some taxes back since you have been paying additional in premiums so it might turn out this is the best thing to do.