Self-Employed Health Insurance

Self-employed health insurance can be purchased for individuals or families who do not receive coverage through a job based group plan. Medical needs are a serious consideration among Americans today as rising health care costs and shrinking benefits continue to accelerate. There are approximately 24 million small business owners and their families who are totally without medical coverage. Those who are leaving employment that provides group coverage, or are currently working on their own, will want to consider the growing options for self-employed health care insurance.

Since the COBRA legislation was enacted in the mid 1980's, there has been some help for those leaving corporate America or those leaving other employment who may need coverage. COBRA allows an ex-employee the option of purchasing his or her existing policy and receiving individual coverage. This provides a safety net for those who need self-employed health insurance by providing a purchase option after employment for a limited time period. If an ex-employee does not wish to purchase the insurance, another self-employed health care insurance plan can be purchased.

Many of those who leave corporate America or other large employment companies are choosing to start their own businesses. Self-employed health care insurance is of major concern to them and their families and unfortunately, it is very expensive in many cases. Policyholders must keep in mind, however, that many people who are self-employed can receive tax relief with their purchase of this coverage. Those who no longer qualify for group health insurance in any way may be qualified to receive very helpful tax relief when purchasing self-employed health insurance. Other people, who aren't even employed, can purchase their own coverage through many new insurer programs.

Another way to keep premiums lower is to choose a policy that has a higher deductible. A higher self-employed health care insurance deductible will provide lower monthly premiums and policyholders can still receive catastrophic coverage as well as some basic preventive care benefits such as help with some annual exams and other needs. Those who are interested in purchasing coverage will find that many insurers offer free quotes and information. Self-employed health insurance is an important aspect for any small business or self-employed individual to consider. As with any major financial decision or investment, it is important to pray and allow every decision to glorify God. "Let all those that seek thee rejoice and be glad in thee: and let such as love thy salvation say continually, Let God be magnified." (Psalm 70:4)

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