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What You Need to Know About Self Employed Health Insurance
Finding health insurance can be a challenging process if you are self employed. Many small business owners and self employed individuals do not consider purchasing there own health insurance. There are affordable health insurance options available for the self employed from top health insurance companies.
No one who is self employed should go without a major medical plan from a top rated health insurance company. When considering a health insurance plan you will need to determine what kind of coverage you want.
There are many options available to protect your self and your business from the financial risk of an accident or major illness, but they are not all equal. Some companies have very limited benefits that will not be much help in your time of need. That is why we recommend selecting a top rated health insurance company for your self employed health insurance needs.
The question you want to ask yourself is: am I able to risk purchasing health insurance that is cheap from some off-brand company I have never heard of?
It is not worth risking financial disaster to save 50-100 dollars per month because, if the so called insurance does not cover what you thought it would not only will you have to pay for the medical bill you have also lost the money you spent on the insurance. Even if you cannot afford to spend much on health insurance it is better to have a high deductible plan with a major health carrier that you can afford then it is to go without or purchase a limited plan.
Below is what all self employed people must understand when considering health insurance:
Co-pay: Is a fixed amount you must pay at the time for service for a doctor office visit or a prescription.
Deductible: Is a flat amount that you must pay before the insurance will pay any benefits
Coinsurance: Is the percentage of your bill that will be paid by the insurance company AFTER the deductible is met.
Out of Pocket Maximum: Is the most you will have to pay AFTER the deductible.
Does the health insurance have any limitations, exclusions, or waiting periods for services?
Chris Denorch is a licensed Insurance agent with over 8 years experience with Self employed health insurance and Health insurance for Self Employed
About the Author
Chris Denorch is a licensed insurance agent with over 8 years experience with
self employed health insurance and health insurance for self employed.
WORK COMP UPDATE 1 – JUNE 8, 2009
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