Insurance

How to Get Health Insurance When Self-Employed

How to Get Health Insurance When Self-Employed

in the group now there are some restrictions so do research and make sure that it’s a right fit for your family’s medical situation before going with this option now this is what christian healthcare ministries is and these days every dollar matters and taking care of your family matters too and with christian healthcare ministries you can care for your family’s health and bank accounts to learn more go to chministries.org rachel there are also some health insurance options for when you’re only going to be self-employed for a short period of time so there’s cobra insurance that it allows you to temporarily keep the same employer-based health plan that you had at your last job usually you can keep that for 18 months even up to 36 months but you are going to pay more than you originally did because your employer will not be paying your premium anymore this is really expensive i know people that have had to do this and again you pay a lot but you want health insurance so if it’s what you need to have in the interim then it’s worth it now there’s also short-term health insurance and this usually covers you up to three months with lower premiums than cobra and you will have high out-of-pocket costs though and pre-existing conditions

usually aren’t covered there’s also industry specific health insurance and this is a discounted health insurance available for certain professions usually through a freelancer’s union but before you sign up for this make sure that you’re not paying more for this kind of plan versus when compared to a marketplace plan so how much is self-employed health insurance well this varies depending on a lot of factors so the average person will pay 438 dollars a month and the average family will pay about 1779 dollars per month and if you qualify for tax subsidies you may not have to pay as much again check healthcare.gov for more information on that all right here are just a few general tips to keep in mind number one look for agencies who can help so check out agencies like the association for the self-employed that can possibly give you additional support like discounted plans and hsas health savings accounts number two use self-employed health insurance tax deduction if you qualify this means you can deduct a hundred percent of your health insurance premiums from your annual gross income when you file your taxes in order to qualify you’ll need to prove that you have your own health insurance not a former employers your own and you’ll also need to prove your income for being self-employed number three find a high deductible health plan

so this means you’ll have lower monthly premiums you just need to make sure that you can cover the high deductible when you need to that’s why it’s good to have an hsa because it’s a tax advantage savings account linked to a high deductible health plan the money saved in your hsa can be used to pay tax-free for qualifying medical expenses it’s awesome number four make sure to work with an independent insurance agent so use the ramsey trusted endorsed local providers program to find a local agent who can help walk you through all of your options and find the best possible rates so that you’re not overpaying they can help make everything a lot less confusing and make sure that you and your family are covered all right you guys i know that was a lot but it’s a really important subject and health care can be really confusing be really expensive so for you to have all the information possible especially when you are self-employed it’s really important because remember i want you to take control of your money and create a life you love

Hey guys welcome  today we’re going to talk about something that’s kind of confusing but stay with me because it’s very important getting health insurance when you’re self-employed so if you work for yourself instead of a company what are you supposed to do about health insurance do you really need it let’s answer all of those questions and more and stick around to the end because you do not want to miss these money-saving tips for self-employed health insurance okay do you really need health insurance if you’re self-employed yes everyone needs health insurance if you have a medical emergency you have to have a way to pay for it and it can be very very expensive that’s attractive now self-employed health insurance is just individual or private health care coverage that you can buy for yourself and your family on the government’s health insurance marketplace so this only applies if you do not have employees

if you do have employees there’s different rules for health insurance so here are a few options on how to get it health insurance marketplace so the government’s health insurance marketplace is where you can find out if you qualify for medicaid tax credits or lower health insurance premiums and if you have kids this is where you can enroll them and the children’s health insurance program if you qualify so just go to healthcare.gov to learn more about the marketplace then there’s private health insurance so some insurance providers have plans specifically for self-employed people so shop around and look for a plan that offers a wide range of benefits like access to in-network providers annual checkups and preventive care an independent insurance agent can help you find the right plan for you now there are also health care sharing ministries so this isn’t technically health insurance but it’s a group of people who belong to an organization like a church or a ministry and they pull all their money together and use that fund to pay for major health care costs for people

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