Self Employed Health Insurance Options
Self employed health insurance for business owners can be critical. If you operate a business as your only source of income you won't have the luxury of the kinds of health insurance benefits available to people who work for an employer. As the boss you will need to make provision for your own health insurance coverage and take care of your employees as well.
Even though self employed health insurance rates are typically higher than those of other coverage this is not the place to skimp on your health benefits - particularly if you have a family to consider. Taking care of a family's health benefits can be expensive, particularly if you are trying to grow your business. Luckily there are a number of options available for the self-employed person.
If you are self-employed but don't have any employees on your payroll your self employed health insurance options include either indemnity and/or managed care plans. This is especially true if you don't see yourself taking on any staff in the foreseeable future.
If you work alone but think you are likely to employ staff in the near future or go to work for a large organization you might want to purchase a temporary health insurance policy. Rates for these polices are generally cheaper and you won't have a long-term commitment. This is a short term self employed health insurance option and shouldn't be considered permanent insurance coverage.
If you work for yourself and DO have a few staff members on your payroll you have a few options for self employed health insurance. If your employees number 2 to 50 you might want to consider a group health insurance policy. Self employed people who insure a group of employees are likely to qualify for lower rates than people who run a business alone.
If you and your spouse run a business your self employed health insurance options may have to be evaluated by a professional to determine your unique needs.
Don't forget that since 2002 self employed health insurance premiums are now a tax deductible expense at up to 70%.
