Health insurance is a form of insurance coverage that mitigates the risks of sicknesses and illnesses. The Health Insurance Association of America, has it that health insurance is a “coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment”. In the United States, health insurance has been greatly accepted; as such, various health insurance tax providers have been providing quality services to individuals and companies alike.
Usually, most good employers provide group health insurance services for all their employees. Group health insurance simply makes it easier and cheaper for the employees. It also serves as a form of security for workers who may be involved in any form of on-the-job accidents. However, when it comes to self-employed individuals, that is, those that work for themselves; getting insurance might be a little different and not as direct as doing regular group health insurance. There are however some ways to go about health insurance for self-employed individuals. The following would give you a general understanding about health insurance for self-employed and how you can find them.
Governmental health insurance for self-employed
There are a few ways to go about health insurance for self-employed people. Basically, a self-employed person is one who owns a business that makes money or takes in income, but does not have employees working for him or her. There are certain options on how to figure out health insurance for self-employed businesses while going through the government and public bodies.
First, if you are self-employed, you can start by using the individual Health Insurance Marketplace to enrol in a health coverage or ObamaCare plans for business owners that is flexible enough to meet your needs. You simply need to fill out a Marketplace application and then you would find out whether or not you qualify for premium tax credits and other savings on any health plan. This would, however, be based on your income and household size.
So if you are your own boss – web designer, independent contractor, freelance writer, etc. – you can enrol for health insurance through the Marketplace. The reason is that since you work for yourself, you do not have employees and cannot be viewed as a full fleshed business organization. If your business has even one employee asides you, you may be able to find health insurance plans from various providers for small businesses to offer coverage to yourself and your employees. Your state may also be able to provide a form of health insurance plan for you. You would have to research and inquire if you qualify for free or low-cost coverage through the Medicaid and CHIP programs in your state. This will also depend on a number of factors.
Health insurance is necessary for every form of business so due process has to be followed carefully. If you go through the Marketplace step, while filling out the application, you would have to effectively estimate your net self-employment income. This may be hard to figure out as self-employed businesses may not be easily predictable. However, it should be predicted to the best of your ability. Also, On March 23, 2010, President Obama signed comprehensive health reform, the Patient Protection and Affordable Care Act, into law. The Affordable Care Act has a detailed list of eligibility criteria for the insurance needs of various self-employed individuals.
By following these processes, one would be able to secure good health insurance for self-employed under the state and other governmental bodies.
Other options for health insurance for self-employed
Various private institutions and organizations also have plans on health insurance for self-employed across the United States. However, there are a few methods that could make it easier.
Sign up under your ex-employer
Signing up under an ex-employer can make health insurance for self-employed ultimately easier. However, this would only work out fine where the individual left the company on a safe exist – usually retirement. While Medicare may cover the majority, it may not cover all your health care costs. So if you are retired and now self-employed, reach out to your past employer and see if you can reach an agreement that places you under the company’s group health insurance platform. This would save you a lot of stress, a lot of time, and ensure you are covered under a secure health plan.
Sign up under an association or professional group
There are so many professional groups and organizations that offer group health insurance plans to their members. They could be bar associations, alumni associations, church groups, professional groups and so on. They usually offer health insurance with group coverage rates that are attractive for only members. Join one or ask the ones you are already under if they offer health insurance services, and you would be able to bridge the gap.
Sign-up under your Spouse’s or Parents’ plan
This is such an easy way out, you would also wonder why you did not already think about it. Family health plans are very reliable. Where your husband or wife or parents are signed up under a group health insurance plan that covers a number of people, you can simply rely on them for your health insurance needs. The person may have to pay a little more but it would be nothing compared to how much you would have paid if you went ahead to do it yourself – not forgetting the stress that comes with it. This would keep you secured with little cost and no stress.
Create your own health insurance policy
A good number of quality health insurance providers actually have tailor-made plans to suit various needs – including health insurance for self-employed. With a little research, you would find out so many options available to you. Having your personal plan would give you the luxury of designing the coverage plan as you like. You can also secure your own quotes and make a choice in the comfort of your homes through direct health insurance.