What Are Low Cost Health Insurance Options for The Self-Employed?

By Robert Fredricks Posted in Health Insurance News

Have you switched from working as an employee with insurance benefits to becoming self-employed? Now it is up to you to buy your health insurance. Yet, the rates are so high that you may be asking, “what are low cost health insurance options for the self-employed?”

Group Coverage

With millions of people working for themselves, it is getting more common for professional organizations have group health insurance coverage. These plans usually have minimum basic coverage. However, they work well for emergency situations. The bigger the number of members the better chance you will have to get lower premiums.

Short Term Coverage

An alternative to joining a group plan is short term coverage. This provides all the regular health benefits but at a more reasonable cost then a long-term plan. A short term plan is a practical temporary solution, especially if you are planning to hire people in the future.

Employer Coverage

Under the law, your former employer must give you the option of keeping your employee health insurance benefit. This offer beings start right after your last day at work and expires in a few months. You will be required to pay for the full monthly premium that the company used to pay, instead of what you formerly paid as an employee. These premiums are still less than what the majority of individual health insurance charges.Another option for self-employment insurance is getting health insurance from your spouse’s employer. You will pay less in premiums for your family or individually, than joining a group insurance coverage. Also, the insurance benefit offered where your son or daughter works, can cover the family at a much more affordable rate.

Related posts:

  1. How Does Short Term Disability Insurance Work For Health Insurance?
  2. How Does Long-term Disability Work For Health Insurance?
  3. How Does Group Health Insurance Work?
  4. What Is A Multiple Employer Trust For Low Cost Heath Insurance?
  5. How Much Will I Pay For Health Insurance If I’m Self Employed?

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