A self-employed person, an independent contractor or an independent person is a person who does business independently and does not work for a specific company. They have many advantages, including flexibility and work-life balance, but they also have to manage all aspects of their work. Health insurance is an important consideration for anyone deciding to become self-employed, as most companies do not insure this type of worker.
Being self-employed can be risky because if you get sick and can’t work, you probably have no income. This means that you have to pay for all medical treatment out of your own pocket. Without the option of group insurance in a traditional work environment, it is becoming increasingly important to get insurance yourself.
How much does self-employment health insurance cost?
While it would be nice to be able to provide a number to answer this question, each person’s health insurance rates vary. But before you think about the cost of health insurance, think about it. According to the Department of Social Services, the American with a federal market plan paid $ 106 in subsidies in 2016. In addition to the market, there are other ways to find affordable health insurance.
Self-employment in the United States
Many people choose to work independently. In many cases it is not because they have to do it, but because they have to. According to the latest data from the US Bureau of Labor Statistics. UU. (BLS), 10.6 million people who were identified as independent or self-employed entrepreneurs in May 2017. This corresponds to 6.9% of total employment.
However, this number is expected to increase. By 2020, it is estimated that 50% of US employees will be self-employed in some form or another. A big challenge for the self-employed, self-employed or self-employed is to find affordable and reliable health insurance. Fortunately, there are several options, and with a little research, you can find a good plan to protect your health and get medical help when needed.
As a freelancer you will find health insurance in several places. Some options are available here.
1. Low Cost Healthcare Act (ACA)
Since the entry into force of the Low Price Health Act, also known as Obamacare, people in the health care market have been able to take out health insurance individually or under certain circumstances as a small business. , Registration begins in November and usually ends in mid-December. Plans sold during this period typically start on January 1st of the following year. So if you signed up in November 2018, reporting will begin on January 1, 2019.
If you lose your open registration, you can visit the market and check whether you are entitled to a special registration. Life changes and circumstances allow you to qualify outside of the open health insurance subscription. You can also get medical help if you qualify for Medicaid.
2. Partner’s national partner plan
If the spouse works and is covered by the employer, this can be a good option. Since it is an employer-based plan, you can also save money by paying a lower premium for dependent people.
Even if you are not legally married, you can be considered a domestic partner if you share the same accommodation and live a domestic life as long as you are not married to another person.
3. Cobra cover
If you have recently left your full-time job or are about to quit your full-time job and venture as a self-employed or self-employed, most health insurance companies offer the option of transforming your existing group plan into an individual plan. The plan provider will notify you of your eligibility for Cobra coverage.
Individual plans can be more expensive depending on your personal situation, but the cost you can save yourself by working for yourself can easily make a difference. If you quit your job, you may also be eligible for the special registration period. Check your options there to make sure you save money when possible.
4. The Union of Freelancers
The Union of Freelancers offers health insurance. There are also additional medical plans that include dental care and life insurance. The union website also offers a grant guide, an FAQ page, a glossary of health insurance terms, and a guide to choosing the plan that suits your needs.
5. Professional associations
If your profession has associations or if you become a member of a self-employed or an association of self-employed, you can take out group insurance with this type of affiliation. Group insurance enables people to join as members of a group (self-employed), which is similar to group insurance through an employer.
Short-term health insurance plans do not offer the benefits or coverage options that the Low Price Health Care Act (ACA) plans offer. Short-term health insurance can be a temporary option to check if the open enrollment period has been lost and you want to avoid paying medical bills until ACA coverage is available. Short Term The term may not meet the requirements of the Affordable Health Care Act (ACA) and may result in you being fined below the minimum requirements for ACA coverage if you do not have the required coverage for at least 9 months a year.
When you speak to a licensed health insurance broker, you can discover many other options. You can get professional advice and adapt the solutions to your needs. Be sure to review all of the other options described above before choosing this type of solution.
If you think that health insurance is too expensive, think about the consequences, especially if you live in some parts of the country. Although the national mandate no longer exists, some states still require health insurance:
- New Jersey
Maryland is still wondering if a sanction will be imposed on people without insurance.
Each state has its own rules on how much it will pay. For more information, contact the tax authority in your country.
Reduction in health insurance costs
If you think plan prices are expensive, consider a higher franchise plan or a lower “metal level” in the market. Consider again speaking to a health insurance broker that represents several insurance companies and can look for different options for you. The more you take out your health insurance, the more you save. Buying in one place limits your chances.