4 Health Insurance Coverage Options For The Self Employed

In January of 2014, over 14 million Americans were self-employed. Out of that group, 9.2 million self-employed people were unincorporated workers. If you are your own employer, it can be difficult to find good health insurance that is affordable. Here are a few ways that self-employed people can get the health insurance coverage they need:


If you recently resigned from a job to work for yourself, you can elect to keep the health insurance you had with your former employer. The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows you to keep your group health insurance when you voluntarily leave your job. However, the plans may only offer coverage for a specific time period, and the premium amount you paid when you were employed by the company will go up. Companies typically pay a large portion of the premium, so now you will be responsible for their share and yours. In addition, there may be an extra two percent charged for administrative costs. 

Your Spouse's Plan

If you are married to someone who is insured through an employer, you may be able to get coverage through his or her plan. Your spouse's premium may increase once your coverage is included, but the overall cost will probably be lower than the price of an individual policy. In addition, your spouse may not be able to add you to his or her plan until open enrollment.

Group Association

Some special interest groups and trade organizations offer group health insurance. If you are a member of a group, such as a Chamber of Commerce or a local church, check to see if there is available health insurance at a group rate. If you are not a member of an organization, consider joining one. The National Association for the Self-Employed (NASE) has some available coverage plans.

Health Insurance Marketplace

You can also choose health coverage through the individual Health Insurance Marketplace. You may even qualify for savings, such as premium tax credits. Coverage cost and eligibility are based on your income and the number of people in your household. If your income or household size changes during the year, it can increase or lower the cost of your coverage.

If you are self-employed, you can still find health insurance coverage at a decent price. Compare your available options, and select coverage that fits your budget and your health needs. You can also talk to professional money services, such as Culbertson Financial Services, for ways to cover the cost. If you don't already have coverage, enroll in a health plan today.