How Much Will I Pay For Health Insurance If I’m Self Employed?

By Robert Fredricks Posted in Health Insurance News



Healthcare costs have increased very much over the last several years. It seems that in order to get treated for any medical condition, it is going to cost you a considerable amount of money. Unfortunately for many people, healthcare and medical treatment is unaffordable and can be crippling to just about anyone. In fact it is widely known in many circles that healthcare and medical costs are arguably the leading cause of bankruptcy, so keeping healthcare costs to a minimum is very important. Due to the very high costs of healthcare, there has been much effort for healthcare reform in order to make medical care more affordable and attainable for every person.

Health Insurance

In order to minimize a person’s healthcare costs, it is very important and beneficial to get health insurance. Health insurance offers an individual, or family the ability to significantly reduce their healthcare costs and thus have a much lower financial burden when it comes to medical treatment costs. However getting health insurance is not easy for many people since insurance companies charge high premiums and often deny those who have a pre existing medical condition.

Who Needs Health Insurance The Most

Just about everyone needs to get health insurance. Whether it’s an individual, family, or business, many people get health insurance from a private insurance company. However one of the types of people who seek health insurance are self employed individuals. Unlike getting health insurance from a company as an employee, self employed people are responsible for their own health insurance so they need to find a policy that meets their needs. This can often be difficult since a self empoyed person is on their own when it comes to this.

Costs Of Health Insurance

For the self employed person the cost of health insurance can be considerably high. Depending on your financial situation and health condition, the monthly premium can very from affordable to unaffordable. For a self employed individual who is healthy premiums can range from $120-250 per month for a comprehensive policy. If the self employed person is single this will typically be the premium range. However if the self employed person is married with kids then the insurance policy can be as high as $600 per month. The premiums and costs of insurance depend on current health condition and number of those being insured. The more healthy a person is the lower the premiums are likely to be and vice versa.

This infomation is important because for many people the need for health insurance is very high as it dramatically reduces your healthcare costs and thus can save you from bankruptcy. For individual’s who are single and healthy, insurance premiums are usually at the lowest possible cost whereas families usually have to pay anywhere from $400-600 per month. Also the less healthy a person is, the higher their premiums will be. This fact applies to self employed people as well. There is not much of a difference in cost, it’s just that a self employed person is responsible for their own insurance and so the time and effort to find an adequate policy is what makes it more costly.

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