The Affordable Care Act has changed everything associated with health insurance, even for those who are working as freelancers. There are benefits for the eligible individuals; the mandate subsidizes a bigger percentage of the health insurance premium. However, if you do not qualify, paying for health insurance for self-employed workers can be a tough challenge. Shopping for a health plan? Below are some coverage options that you can pick.
- Your former company’s plan. If you have become self-employed after taking an early retirement package, it is possible for you to purchase health insurance from your previous employer to provide you with health care benefits until you are 65—that’s when Medicaid comes in. However, this doesn’t come cheap. There are always other options, and some of them are:
- Your spouse’s insurance. Perhaps your partner is working and you can benefit from being under his coverage. Or your spouse has chosen to pay for family health plan. You can take this perk and be content to gain the services under his policy’s umbrella. Or you can also pick…
- COBRA. Under this act, companies with 20 or more personnel must offer health coverage up to 1 year and six months after you left the job. You may pay the entire cost of coverage and an administrative fee for this plan.
- Your association’s plan. College alumni, churches and clubs offer discounted health insurance. If you are running a small business that belongs to organizations such as Chamber of Commerce, you can take advantage of its group rates. There are other organizations such as the Freelancers Union and National Association for the Self-Employed who offers insurance.
- Your own policy. Find single plans in your area in Flat Rock and find health insurance for self-employed individuals. There are plans available at the federal website and the state’s insurance department website. You can also ask your doctors which carriers they accept.
When shopping for your own premium, always compare prices, deductibles and out-of-pocket costs. Know if they have your preferred doctors in their networks and anticipate paying an annual deductible to keep your premium down.
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