Self-employed freelancers and small business owners have a lot of struggles and obstacles to overcome. One of those obstacles is finding affordable health insurance. It’s no secret that most corporate companies and large employers offer health insurance plans to their employees at a group or discounted rate.
But what do you do for health insurance when you are an entrepreneur and don’t work for a corporation? Rather than going to WebMD when you’re having foot pain to try and decide if you’re battling a bunion versus gout or a seasonal cough versus bronchitis, it’s best to be covered by insurance so you can get a professional opinion without breaking the bank.
Below, you’ll find some of the best affordable health insurance options for self-employed freelancers and small business owners.
The Affordable Care Act (ACA)
Commonly known as Obamacare, the Affordable Care Act has provided millions of people with independent health insurance. Through a government Marketplace that is subcategorized by state, self-employed individuals and those who are not covered can apply for health insurance during the open enrollment period. This period begins November 1st and ends December 15th of each year.
There are multiple plans you can choose from in the Marketplace and may even receive subsidized coverage or tax credits to cover the premium costs.
Join Your Spouse’s Plan
If your spouse or domestic partner is employed and has health insurance through his or her employer, you may be able to join in and receive coverage. Of course, adding another person can raise the premium cost of coverage, but it leaves you with health insurance at a discounted or group rate.
Find Private Insurance
While private insurance sounds like it will be overly expensive, it isn’t always the case. If you don’t find something you like in the Marketplace, you can always go through private health insurance companies. While some of them may be more expensive, there are others that are more affordable.
It’s essential to do your research thoroughly and also make sure the private plans meet the government’s requirements for health insurance coverage.
Become a Member of a Freelancer Union
Join an established freelancer union based on your industry and receive group or discounted health insurance coverage. When you become a member of a freelancer union, you will have access to beneficial resources such as health insurance, dental insurance, vision insurance, and even life insurance.
It’s a great way to become more established as a freelancer too because you’ll have a chance to network and receive professional help when needed.
Health Insurance Options for Individuals
It isn’t easy finding affordable health insurance as someone who is self-employed. However, investing in your health and ensuring you have the resources you need to stay healthy is essential, especially when people are counting on you.
Spend some time researching different health insurance options and choose the one that is right for you. You’ll thank yourself later down the road.