Health insurance for the self employed

Health insurance for the self employed remains key to the survival of businesses. Because health insurance for the self employed seems like a big topic , many people think it’s out of reach. But health insurance needn’t make you give up your dreams of running a business. Consider these tips for health insurance:

  1. You can buy health insurance for yourself, just like you can buy car or travel insurance.
  2. If you recently left a job, see if you can continue under your employer’s plan or under interim insurance like COBRA in the US. (If you’re in Canada or other countries with national health care coverage, do make sure that the government has the information it needs to keep processing your insurance payments.)
  3. See if you can get state-sponsored health insurance for the self employed.
  4. Talk to an insurance broker about your options. When you work with a broker, they shop around for the best rate and take much of the work off your hands. Insurance companies typically pay the broker’s fee.
  5. Check with your professional, social and alumni organizations to see if you can get a deal on group insurance.
  6. See if your state offers a guaranteed insurance plan, if you have a higher risk medical condition.
  7. Be cautious of discount insurance plans that come with steep deductibles when you need to actually use the insurance. Saving money upfront may not offset thousands of dollars later.
  8. Shop around and keep informed. Take the time to evaluate and understand your options.

 

 

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