Read This Before You Buy Self Employed Medical Insurance Coverage


It can be costly to restrict your search for the best self-employed health insurance plan. Assuming that you will get the best price through your husband or wife's employing company or by forming a small group can cost you hundreds of dollars each month.



Purchasing the wrong type of health insurance contract is a common mistake that self-employed men and women make all the time. The self-employed man or woman might have several choices with it comes to medical insurance. Looking at all options is the key to getting the best deal.

You could find that purchasing your coverage through your spouse or domestic partner's employer-sponsored medical plan is the best deal and sometimes it isn't. The coverage could be available without any health questions. It may also be cheaper. However the price will depend on whether or not the employing company subsidizes the premiums.

It many be the case that that your spouse's company will subsidize their employee's portion of the premium, but will not do so for their dependents. Don't presuppose that since your wife or husband's cost for medical insurance is inexpensive yours will be as well. This can mean that you pay more than you should.

Buying your health insurance coverage this way may merely postpone a problem. An employing company can change the medical insurance coverage options offered to its employees or eliminate it completely. A domestic partner or spouse can change jobs, die or divorce. All of the above can make a difference in the length of time you get to be covered by your husband or wife's medical insurance.

Purchasing health insurance as part of a small group that you form is another option. Even very small employers can do this. You could be able to purchase group insurance with as few as one employee even if that employee is yourself. In all states having two employees makes you eligible for a group insurance contract.

The advantage of group insurance is being able to medically qualify even if you have a significant health condition. This is a double edged sword. Insurance companies have more claims on these types of policies per policyholder because of this. This means that these policies cost more. Therefore these policies tend to be more expensive some other options.

Buying private health care insurance as an individual or family can work very well for the entrepreneur who works alone. Individual medical insurance policies are often very affordably priced when compared to the other options. Often these policies are not even considered, because people suppose that group health insurance policies are automatically cheaper than individual or family policies.

These policies are also designed to be kept until you are eligible for Medicare. Although you can lose your insurance if you don't pay your premiums when they are due, if you move out of the servicing area for your policy or if the health insurer stops offering policies in your state, chances are you can keep your coverage for as long as you need it.

Each of the above choices has both positives and negatives. It is critical that you are aware of your alternatives and don't constrain yourself when shopping around for self-employed health insurance. This is the best way to be certain that you purchase the best policy for yourself.


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