If you work for yourself, you’re already aware of the many benefits that come from being your own boss. The freedom to create your own hours, and indulge in the type of work you enjoy, are just a couple of the positives.
One benefit most self-employed individuals don’t get to take advantage of is lost-cost health insurance. Once you begin working for yourself, getting medical and dental becomes an issue to figure out on your own. How will you pay for it? Where will you get health coverage from?
Discover more about self employed health insurance, and see why it’s important to get the coverage you need today.
Figure Out if You’re Considered Self Employed
Self-employment can open a lot of doors. It’s easier to break into the field of your choice without working your way up a corporate ladder.
Self-employed individuals are typically known as contractors or freelancers. If you’ve ever thought of going into business for yourself, you’ll know there’s a fine line between freelancing and becoming a business owner. Regardless of what you call yourself, you can get hit with fines if you work for yourself but don’t have any health insurance coverage. This can end up costing you more money in the long run, taking a toll on your finances.
Find out what you need to protect your business and get the healthcare coverage you need so you’re not dealing with these issues later on down the road.
Understanding the Cost Doesn’t Need to Prevent You From Getting Coverage Many individuals who are self-employed fear getting health care and paying all the expenses out of pocket. They know how much costs can be, which can range from $1,000 or more.
If you have a family to cover, the costs can rise even more. While there’s a lot of advice on how to select your own coverage, it’s important not to get swayed by the dollar amount. If you’re earning less than $98,000 a year and have a family of four, you’ll likely qualify for subsidies that you can take advantage of come tax time. This makes a difference in your health care and what type of plan you opt for.
Above all, stay away from indemnity plans and be careful selecting short-term plans. There are special riders and ways of making short term plans less risky, but you need to work with someone that has experience in this field. If you or one of your family members gets into an accident or develops a major illness, you will likely wind up paying much more than if you had selected a full coverage plan.
Taking Care of Your Health Means You Can Keep Working
Why is health insurance so important if you’re mostly healthy anymore? Many contractors find themselves asking this question and debating if it’s worth their time to buy coverage.
Consider what happens when you don’t have health insurance and happen to get sick. When you don’t have the help you need to get better, you can’t focus on your work. A combination of being out unable to work and ill or injured can spell devastation for your work. It’s difficult to get better when you don’t have access to the proper resources that can help you improve your health.
Your health can have a direct effect on your business, including getting caught in a vicious circle of not working even though you need the money to pay for health insurance. Rather than take a chance and trying to save money by going without coverage, check out your options. You can prevent this from happening if you keep yourself covered and protected against accidents.
You’ll Prevent Yourself From Falling Behind
Another aspect of working without health insurance is falling behind on both your work and your finances. Individuals who have traditional employment can take a sick day and keep their job without fear of losing their clients or position. In your case, because you’re self-employed, being away from work for too long can have long-term consequences on your money. This can range from losing clients and having work pile up, with no one else to take it on, to losing out on half your income.
If falling behind is one of your greatest fears, consider this: being unable to work or plan around getting sick means you stand to lose a lot. If you don’t have private health insurance, this can create additional issues for you. Investing in your work is something you’ve spent a lot of time doing. Don’t throw away the chance to have your favorite clients and projects just because of an unanticipated accident.
Get the help and coverage you need, by selecting the right healthcare plan. This can keep you, your family, and your business covered, even in the event of an emergency.
Learn More About the Importance of Self Employed Health Insurance
When you’re self-employed, you’re used to depending on yourself to get everything done. While this is normal as a freelancer or small business owner, it doesn’t mean you shouldn’t prepare for the worst.
Looking into self employed health insurance is one of the best things you can do to protect your work and yourself. You can select from a variety of healthcare plans that work for your budget and needs. This allows you to get the protection you need, without sacrificing your finances altogether.
Interested in learning more but don’t know who to contact? We’re here to help. Contact us and find out more about your options. You can book an appointment online and get the chance to speak to an agent about what solutions work best for you.
Health insurance can be tricky. We’re here to help you navigate through the waters and make it easy to select the right plan for you.