Self Employed Health Insurance
People are focused towards their health these days. This is the reason that you can find several health gyms, food chains and dieticians around you. This is fine. However, people tend to neglect an important aspect about their health and that is the possibility of getting inflicted by various diseases or facing medical emergencies. This makes them lose out on all their savings during an emergency. These days, it is really hard to pay for hospital treatment and medical bills without an insurance policy.
Hence, it is important to purchase health insurance policy to ensure safety for your health. Self employed health insurance is one of the most famous and appreciated insurance policies available for consumers on the market. People who own a business or freelance do not have a fixed income. Therefore, they cannot be benefited by a general health insurance policy. Self-employed health insurance is especially designed for people who own a business or freelance.
If you purchase a self employed insurance policy, you can easily incur costs for all your hospital treatments, serious ailments, physical injuries and medical bills. It is a great option. However, you can only get benefited if you are able to find the best self-employed cover. The policy should be affordable. Here are some common options that can make health insurance affordable if you are self employed: a) COBRA: This is the best option for the beginning of your self employment. Once you leave your job to start a business of your own, your employer should give you the option of retaining membership in his health insurance plan by law for several months. You need to cover the entire monthly premium paid by your company. Here, the actual cost of this insurance is more affordable compared to those plans that you would have otherwise purchased as an individual. However, you should remember that it is only temporary. Try to look for other health insurance options while you are still covered.
b) Group health insurance for the self employed: Most states such as Maine provide affordable group policies for groups of one via health insurance companies. All you require to do is to shop around to find a company that provides one at affordable rates. Make sure that the health insurance covers everyone in the group, irrespective of health conditions. The policy insures you and your family against possible hazards due to illness or accident. c) Coverage under a spouse's plan: This is one of the most common options available to cover the family for health insurance with the help of a spouse’s employer. If a member of the couple is working for a company that has a group health insurance plan, it is usually considered as the most affordable option for insuring the whole family. There are several factors you can benefit from when purchasing self employed health insurance plan. First and foremost, you will have the tax benefit with your self employed health insurance plan. The self employed health insurance premium is 100% tax deductible. Another benefit is reduced costs in premium.
This can be easily availed via your spouse group insurance through the spouse’s company. You can also get this benefit via employing 2 to 50 people in your company. A self employed insurance is very important for a business owner and a freelancer.
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