What Are Health Insurance Options For The Self-Employed?

by Diana Reeves | Sep 14, 2021
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Self-employment has become increasingly popular over the past year with the pandemic.

Many businesses took a financial toll due to the pandemic, which has boosted the number of self-employed individuals – either freelancing or starting their own ventures.

But many newly self-employed individuals are concerned about how and where to find quality health insurance options. Read on for some of our recommendations.

Health Insurance Options For The Self-Employed

Health insurance is difficult to navigate and can feel even more overwhelming when you are going about your search alone. However, we have rounded up some resources to help.

Join A Private PPO Network Plan

One of the best routes to take when searching for health insurance as a self-employed worker includes finding an agent like Diana Reeves who can offer full-service medical benefits at a level that is tailored to your needs.

Whether you are searching for coverage just for you or your family, there are  nationwide portable PPO network plans out there that can cover you when you need it. Coverage through an agent includes more than you may think. For example, it can include health, dental, vision, term life, critical illness, accidents, and income protection.

Why Should I Opt For An Agent Instead?

First, not all agents are made the same. However, with 16 5-star Google reviews alone, Diana Reeves exemplifies integrity and value in her service offerings.

 By establishing a long-term relationship with your health insurance agent, you are better equipped to receive:

  • The best pricing. Agents have more time to focus on you and your needs. They can take extra steps to compare pricing and find affordable yet quality coverage that fits your checklist.
  • Maximum benefits. An experienced agent knows where to look when you need maximum coverage for your money. Comparisons are done on a daily basis and are heavily considered before recommendations are made.
  • Education. You are better equipped to make a decision when you understand your options. An agent who works with you on a personal level will take the time to explain your choices to you and directly answer any questions you may have.
  • Exceptional customer service. Instead of talking to an endless line of automated voices or randomly assigned call center representatives, you have a real person who is dedicated to your coverage needs. Day or night, they are available to answer any questions and address any concerns you may have to put your mind at ease.

Cost-effective individual PPO plans are out there. You just may not know where to look. It’s important to not settle for any kind of coverage, but to find someone you can trust to have your best interest in mind.

Healthcare.gov Individual Marketplace

The Marketplace on healthcare.gov is available if you:

  • Operate your businesses
  • Are self-employed with no employees
  • Work as freelancers or consultants

The four main things you will want to focus on when searching for a plan are coverage options, eligible discounts, premium costs, and cost-sharing amounts.

All of these items can help you find the coverage you need for you and your family at the most affordable price for your budget.

How Do I Get A Discount?

One element you need for a discounted premium tax credit or out-of-pocket pay is an estimate of your income. It does not have to be exact, but it should be a fair estimate of how much you earn a year.

Keep in mind that giving a false or overly inaccurate estimate can hurt rather than help in the long-run. If you made more than estimated, you may need to pay back a portion or all of your premium tax credits. Making less entitles you to more premium tax credits.

When Is Open Enrollment For Individual Marketplace Plans?

The open enrollment period for Individual Marketplace plans is from February 15 through May 15. Conduct your research before this time to give yourself a more comprehensive view of your options.

In addition to this timeframe, you may also enroll at any time if you have one of the following life events:

  • Health Coverage Loss. This includes turning 26 years old and losing parent-based coverage. Also included is the loss of existing coverage or ineligibility of Medicare, Medicaid, or CHIP.
  • Household Changes. These types of events include a new marriage or divorce, having or adopting a baby, or a death in the family.
  • Resident Changes. Changes in residence include moving to a different ZIP code or county (students included), seasonal workers who must move for work, and moving to or from any type of transitional housing.

Other less common events may count as life events. For example, changes in income that affect your qualifying coverage count as a life event. You may also seek coverage if you become part of a federally recognized tribe or gain status as an Alaska Native Claims Settlement Act (ANCSA) Corporation shareholder.

Finally, becoming a U.S. citizen, leaving prison or jail, and AmeriCorps members starting or ending service can all qualify as life events.

Why Should I Opt For An Agent Instead?

It is important to note that healthcare.gov does not work so well for some self-employed individuals because while covering those with preexisting conditions, those plans could:

  • Be more expensive
  • Limit coverage
  • Offer unsatisfactory coverage

All of this is more reason to seek out help from a trusted health insurance advisor to guide you and make sure you get the best coverage for what you need.

Know Your Options For Self-Employed Insurance

You are not alone in your search for health insurance options for self-employed individuals. With year-round availability, 365/24/7 personal customer service, and free quotes available, we are here to help.

Call me today to learn how to save money when choosing your health insurance plan.

To get started on a customizable plan that works for your small