Health Insurance

 A self-employed person often has lots of questions about taxes and insurance. These industries can be very confusing to the average person, especially a person that is occupied with trying to establish a successful business. Out of these two subjects that often plague a self-employed person, health insurance is probably the most expensive, and the least explained. The cost of medical insurance for the self employed could ruin the entire business. There are several ways a self-employed individual can have medical insurance coverage.

A current medical insurance plan provided by an employer can be extended after employment termination through COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) which allows health insurance extensions of as much as 18 months after the last day of employment. A health insurance high risk pool gives families or individuals with pre-existing medical conditions the ability to purchase special health insurance plans that are state-sponsored. Thirty four states have one of these high risk pools, such as the Texas high risk pool and the Florida high risk pool. Another option is to buy a policy on the open market. An individually underwritten policy can be easy to find if the self-employed person and his family have a clean health history. If the self-employed person is married and his spouse is covered under a company's group health insurance plan, the self-employed person should be able to be added to the policy. Typically the prices for family medical insurance plans are cheaper than those plans in the private market. Some states have guaranteed-issue health insurance, which is when companies that are active in the state offer insurance coverage to all employees, regardless of health status. Self-employed people can also take a look at Medicaid insurance,

A policy needs to be found that will offer a mix of benefits and costs that work best for the individual and his family. A plan should be chosen based on the number of benefits that will protect the family as well as the person's assets. A self-employed person does not usually have a lot of money to pay for such high insurance premiums at the beginning of his career.

When shopping for medical insurance, know ahead of time which options are needed the most for the family or individual. Shop around for the best prices for the best packages that will completely meet all the needs of the self-employed person and his family. It is also a good idea to search for specific state related health insurance plans.If you need assistance in locating particular coverages at a pre-determined price, we can help save 50% on health insurance.