Take a look at any of the various websites run by the US Department of Labor or watch the daily evening news on the major networks and you will notice that the US unemployment rate continues to hover anywhere from 6 to 8 percent. However, the Rest of the Story cannot be told through these numbers as Paul Harvey may have put it.
The number of professionals who were handed pink slips and became unemployed during the 2008 financial meltdown is unprecedented. Many if not most of them, instead of finding a new company to work for, found a way to make money for themselves by officially joining the ranks of the self-employed.
Health insurance for the self-employed can be a real minefield. For those coming from jobs where health insurance benefits were provided while a small fee was deducted from the paycheck, obtaining health insurance for the self-employed can be an eye-opener and a major challenge.
However, there are several avenues of investigation that the self-employed can pursue in order to identify a qualitatively superior policy that covers everything necessary while not breaking the bank. For those who seek insurance coverage while pursuing the proverbial American dream, we have a few quick pointers:
Do your homework
Thanks to the Internet, locating health insurance for the self-employed has taken light years to jump from what it used to be. You now can choose from a variety of providers, all offering services, plans and contact details right on their respective websites. The main things that you’re going to want to look for when exploring various avenues of health insurance for the self-employed include identifying an insurance provider that can get you the services you need through a facility you trust (if you have one) and at a price that’s affordable. Any Internet search will lead you to over a dozen reputable providers of health insurance for the unemployed.
Invest only in the coverage you need
Since you may have had an employer picking up the tab for your health insurance in the past, you just might feel the financial pressure during your current entrepreneurship tenure. After all, health insurance is still an extra bill to pay. However, you can reduce your premium rates by simply assessing your needs. If your single and in good health, you may wish to opt for a higher deductible and co-pay, which creates an increased level of financial risk should you become seriously ill or injured? Nevertheless, this will surely help you out with paying the bills in the short-term by keeping your premium rates low.
Write it all down
Consider sitting down and chronicling your health insurance needs, and those of any dependents before you dive into the process of procuring health insurance designed for the self-employed.
Here are a few insightful questions worth exploring before you commence your quest in full earnest:
Is it simply an individual health insurance policy or are there others who will also become a part of the policy much like a group policy?
Are there any potential issues such as pregnancy or issues in the present such as diabetes that will require additional medical care and attention?
Is your job one that entails additional levels of risk, therefore, necessitating a better than average coverage plan?
These questions will help you deduce what type of health insurance coverage you require. Moreover, they will also affect what you pay the insurance provider.
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Procuring health insurance for the self-employed can by no means be considered an uphill battle. There are plenty of resources out there that are standing by to assist you as you race through the challenges of life while hanging your shingle.