Self employment and health care policies aren't quite the same as employer-offered health insurance, one of the oddities in self employment. Being self employed means not having a boss looking over your shoulder, and being totally financially independent. Self employed professionals have only to take care of themselves. They make all their own work decisions. However, being self employed also means taking care of their own health care expenses. There is no employer to provide coverage; now that you’re self employed, it’s all on your shoulders.
Providing Your Own Affordable Insurance
The good news is, sometimes purchasing an individual health care package is more affordable than the health care offered by small companies. Paying for just the health care coverage needed for a single individual ensures costs will be as low as possible. When you pick your own health care package, you’ll have no surprises regarding deductible and co-pays, as is sometimes the case when health care is given by an employer. In some ways, it’s actually more beneficial and affordable to purchase your own health care package. In some ways, it is not.
Professionals don’t have to be self employed to purchase individual health care policies. Anyone can buy individual health care coverage, and can even purchase a policy that will cover other family members as well. A monthly rate is charged for this health care. Policies which are not offered through employers may be higher than employer-offered policies. Businesses which purchase multiple policies get a discount, while there is none for individual insurance. The deductibles may also be higher with individual policies. However, there will be no surprise rate changes or a switching of companies, as is the case when insurance is offered through an employer.
Self Employment and Health Care
Purchasing individual health care policies is actually becoming more popular as the cost of health care soars, so there's lots of information online. Check out esurance.com, Self Employed Health Care, and healthinsurance.org for free quotes and information.
The key to low cost health insurance is in maintaining a healthy lifestyle. Read more about Health and Wellness on Suite101.
Not only those who are self employed, but those who wish to pay reasonable, unchanging rates for their health care coverage can benefit from purchasing individual health insurance policies. You’re supposed to be enjoying your self employment, not paying for it! Take the time to find affordable, good health care that’s right for the individual in question. Everyone needs health insurance, and by purchasing individual policies everyone can get the opportunity have it, too.
KC Morgan - KC Morgan has been the featured writer in Self-Employment since 2006, using personal experience to create guides to being self-employed.
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