Last updated 1 August 2016

Health Insurance Options for Self-Employed

Health Insurance Options for Self-Employed - Expatfinder.comWhen we were still studying, we always thought that being employed is the top attainment we can give ourselves when looking at the career-oriented aspect of our life. But then we start being employed--and just like any other employee, we get tired of having the same routine day after day. That is when the idea of starting up our own business and being courageously self-employed comes into mind and we try to help ourselves excel in something that we surely think will make us grow both in the career-oriented and financial aspect.

But then again, together with the courage of trying to go on a venture of starting up our own business or being self-employed are the various factors that we had to sacrifice once we retire from being an employee. One of which is the crucial of them all – securing a health insurance policy. It is understood that some of us would rather be employed than resign and start on their own because of the benefits they get from the company they are currently employed. But since the road to self-employment is what you have chosen to partake, then the next question is, “How would I secure a cheap health insurance policy?”

Here are some of the effective tips that one may use in order to get a cheap and efficient health insurance policy:

Refer to the previous employer’s plan.
It may be ideal to just continue with the insurance plan you are currently using through your previous employer. In that way, it is easier to get a sum up of the cost of the insurance and you at least have an idea and backdrop of what you will be covered since the plan is still the same and instead of the company paying for it, you will just be covering it.

However, this may mean that there will be o exemptions on the payment so meaning you will be asked to pay the exact amount which may be expensive and will cost you more than you were still employed. Greg Bitz, a financial planner from Metropolitan Financial Group in Chevy Chase has said, “For some, that’s quadruple what they had been shelling out via their employer-sponsored plan.”

Join Professional Unions.
Freelancers may also try out their luck by joining associations that provides their members with insurance coverage, one of which is the Freelancers Union. It is considered one of the fastest-growing labor organizations in the nation and currently have more than 200,000 members.

Expats, Self-Employed, Insurance

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