Mon 1 Jun 2009
One of the biggest problems with self-employment is finding and purchasing affordable health insurance. There are several different ways to secure health insurance, and each one has certain benefits that may appeal to self-employed individuals.
Purchasing an individual plan is one way to get health insurance. It allows you to customize your plan and select options that are right for you and your family. The biggest problem associated with individual plans as a solution for self-employment health insurance is the cost. Individual plans may feature great flexibility and options, but the cost associated is far greater than that of other options.
Certain professional associations offer health insurance options for the self-employed. This might include collegiate alumni associations, trade organizations, or local chambers of commerce. If you are a self-employed individual with an existing relationship with such an organization, inquire about the possibility of acquiring insurance this way. The biggest danger associated with association plans is that some offer limited coverage, and associations have been the target of many fraudulent activities in recent years. Perform research to ensure that you are signing up for a legitimate plan.
Health Insurance Brokers
Health insurance brokers partner with multiple insurers, and they can help you find an insurance company that offers the kind of coverage you are looking for at the right price. If you are not sure what kind of coverage you and your family need, then a broker will help answer important questions to determine what is right for you.
If purchasing your own health insurance seems just too daunting a task, then there are several alternative options for the self-employed. First, taking advantage of a spouse's group insurance policy may be the most affordable way to go. A second option is securing a part-time job with healthcare benefits that will allow you to enjoy the perks associated with a group plan.
At the end of the day, it's great to have freedom, flexibility and be your own boss. But without good health, you'll find yourself with no source of income at all. Research the health insurance options that are available and choose one that fits the needs of your family and lifestyle.