The National Association for the Self-Employed, in addition to many private insurance carriers, are beginning to think of the insurance needs of the self-employed. NASE works with many insurance companies to make such coverage available for all types of contractors; in addition, they ensure that the policies offered are reasonably priced and offer the coverage that a self-employed worker would need.
Self-employed workers have a number of health insurance options, depending on what their current and future situations might be:
- Group Coverage: Varies by state. Some sole-proprietors will qualify for group health insurance, some will not. Groups generally pay a lower premium for their health care, and many group plans contain a vision or dental policy as well.
- Individual Insurance: If you live in a state that doesn’t support group coverage for individuals, you can still benefit from taking an individual policy out, since you will be able to deduct between 70-100% of your monthly premium costs as a business expense. There are a myriad of reasonably priced individual coverage plans available. Indemnity plans can often be a good choice, as can hospital and surgical plans that pay only for accidental or catastrophic injury.
- Temporary Plans: These short-term (1-6 months) plans are an exceptional value if you know that in the future you'll be working for a larger company, or if you plan to hire employees and sign up for a group policy. A temporary plan covers the same basic care as any other health plan, including hospitalization and preventive treatment, but on a temporary basis. It is not renewable, so you'll want to make sure that you have your goals firmly in mind before signing up for a temporary plan.
As more and more people realize the advantages of working for themselves, insurance companies will find new ways to meet the coverage needs of these entrepreneurs.
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Affordable-Health-Insurance.com is an informational resource only and not an insurer or broker. The information on this site is provided for research purposes only, and is not necessarily affiliated with any specific carrier. Coverage options and policies may not be available in every state, and no guarantees of the same are made herein.
