Self Employed Health Insurance 20% Discount Health Plan

September 9th, 2012

Self employed people have more advantage when it comes to choice of insurance cover. Employed people most time don’t have choice of health insurance. Their employers take advantage of their multiple cover and pay less for their employees health cover to save more money in their multiple insurance discounts.

If your employer gets 25% discount for your health cover, that means you are 25 % responsible for your health assurance. The 25% percent deduction which goes to your employers pocket becomes your expenses. As a self employed individual, you have better chance of maximizing profit from your health cover rather than paying more and getting less.

Self employed health insurance is available every where on the internet if you spend time to search well you will be able to get cheap or high discount premium rate for you health cover.

The basic idea about health insurance is that insurance companies charge their customers based on the level of risk covered. If you, as a self employed individual want a discount in your health plan, you have live a healthy life style. If you are a non smoker and you don’t drink alcohol, your cover cost will be reduced by reasonable percentage depending on the insurance company from which you buy your cover.

So it is advisable to buy your cover from the company that has the highest discount percentage for their health insurance cover.

I have always said that health insurance is a necessity, but you can keep the cost low. Do not pay all your earnings to buy your health plan. Know how to spend less and get more.

Self Employed Health Insurance

September 7th, 2012

Taking care of health is not just about curing various diseases, or even preventing various things that might have had an adverse effect on the general health of the people. The first step for an individual who wishes to take care of himself is to have a comparative evaluation of health insurance quotes from a considerable number of health insurance plan providers. This facilitates the individual to make informed decisions about the exact kind of health insurance plans into which he or she wants to enter. Individual health insurances and its insurance quotes are available in various health insurance companies whose work is based on a large-scale area. These individual health insurance works are conducted throughout the cities of The United States. Individual health insurance quotes to one’s expectations can be found through various ways.

For those who work on a self-employed basis, i.e. people who own a business or freelance, there is usually no fixed amount of income. Therefore there is no particular “one-size-fits-all” kind of an approach to individual health insurance plans for the self-employed. However, there are a few things that should be kept in mind before buying a self-employed individual health insurance program. For example, if someone works on his or her own, the best individual health policy for him or her is a temporary policy. These types of plans are not much more expensive than long-term plans. They afford you the opportunity to bail out of the plan should you ever come up short of funds – and without monetary penalty to harm your credit report.

Quality Self Employed Health Insurance

September 3rd, 2012

The population of self-employed individuals has grown tremendously over the past decade. How the self-employed have influenced the entire insurance industry is almost overwhelming. These hard-working, creative entrepreneurs have finally been afforded the courtesy they have deserved for many years. The insurance providers acknowledge their accomplishments and are now willing to offer affordable self-employed health insurance to those who are in need.

Traditionally, insurance was an employer-sponsored affair that began just as World War II was coming to its conclusion. With so many returning soldiers, businesses had to find a way to entice these individuals into their employ, but were unable to offer a high salary because of government regulations and laws. This enticed the various employers to lure these returning soldiers with the offer of affordable employer-paid health insurance in exchange for a low salary.

This tradition has worked well for decades, but we have now come to a point in time when the tides must once again change. A new field of very creative individuals began to open small businesses of their own and the search for a low cost health insurance policy began. Many of these entrepreneurs had young families and required the benefits of a traditional family insurance plan at a cost they could absorb into the daily operation of their small business.

The choices were few and most were not able to afford any type of insurance policy because the cost was more than they could absorb into their small business. This left many self-employed individuals to forfeit even a low-cost insurance plan because they had their hands full trying to provide for their young families.

This brings us into the modern age of the working world today where most individuals are receiving their health care coverage through their employer as many before them. Except that today the cost for even an affordable insurance policy has become so expensive that employers have requested their employees to accept an additional deduction for insurance coverage from their paychecks.

As these individuals gradually left the safety net of being employed by an employer and stepping into the world of the self-employed entrepreneur, group insurance and individual health insurance has become a major issue. Today there are a number of ways for the self-employed individual to acquire an insurance policy for him or herself and for family members.

1. Small business insurance and group insurance plans

. 2. Flexible spending accounts and cafeteria insurance plans


Prudent Design Of Health Savings Accounts (HSA) For Self Employed Health Insurance

August 31st, 2012

One of the most underutilized tools in the insurance world for self employed premium victims is the modern Health Savings Account or HSA.

I find in my work that most of the issues can be tied to either having a lazy health insurance agent who is not well studied, or a customer who makes too many assumptions on what is and what is not included in the benefits. My hope is to clarify the process in which a consumer or agent should utilize to put together a smart and prudent HSA for themselves, and reap the tax advantaged benefits in the process.

HSA plans are designed to have a higher than normal deductible, and as a beneficial result, a much lower monthly premium to be paid. The deductibles are either for a single person (which can run up to $5,000) and family (up to $10,000) but when the deductibles are covered, the procedure expenses are paid 100%. The money which a person SAVES on monthly premium is supposed to be invested in to the Health Savings Account, which can take the form of a separate bank account at most major banks, or an investment fund approved for HSA deposits typically paying more interest benefit. A debit card is issued for the account chosen, and all prescriptions, medical procedures, dental, vision, and any other health related bill is paid from the account. As long as the account is used properly for medical expenses, the money invested into the account is tax advantaged: Up to $2850 for singles, $5650 for families, and is arguably the thrilling part of having one.

So what can possibly go wrong with the mathematics?

The obvious answer is more of a question, which is what happens if somebody needs major surgery (or these days, even simple outpatient surgery) before the HSA savings account has had enough time to build up to enough to cover deductibles and medications? Therefore, self-employed families should be especially careful with their cash flow ability when choosing the maximum deductible in the first place,

Having said that, another approach to policy design is to add enough ancillary and separate accident and critical care coverage to off-set a major shock, such as cancer, loss of limbs, any accident, and the most expensive surprises. This enables a person or family to keep the premiums somewhat at bay, but covers the very real possibility of needing $10,000 or $20,000 cash immediately to pay for an emergency room, or other catastrophe. There is no better policy combination that I know of than a federally mandated (standards) HSA Major Medical Plan combined with the correct ancillary items, when taken in to proportion of monthly premium benefit and overall safety from unexpected events.

The key to all of this for the self employed health insurance buyer is to work with a health agent who cares enough to dig in to the details of what ancillary policies would be best, covering everything from accidents and the top illnesses, to which discount program to use for dental and vision. If you do not have guarantees in all of these areas, coming up with large amounts of cash or credit for a surgery or other event could be horrible.

The HSA is one of the best weapons for the highest payers of health insurance, which are self employed individuals with no group plan to cover them. Take advantage of any of the top company plans, and choose your agent carefully. There are plenty of reliable health insurance companies out there. Find an agent that knows what ancillary tools to put in to perfect your HSA, and reap the premium and tax advantaged savings for you and yours.

Practical Ways For Obtaining Self Employed Health Insurance

August 28th, 2012

During global economy crisis, looking for affordable but quality health insurance plans can be a challenging and time consuming task for entrepreneurs and the self employed. With the rich resources in the internet, this task has become simpler. You can obtain all types of useful and updated information online within a short period of time. Here are three practical steps for self employed to obtain the right healthcare plan.

Step 1:
Determine what type of coverage that suits your requirements. Ask yourself the following key questions in order to evaluate your personal needs:
• Do you visit the doctor frequently?
• Do you only go for medical check up once a year?
• Do you visit the doctor during emergencies only?
• Do you prefer to pay a low monthly premium with a high deductible or the other way round?
• For women entrepreneurs, do you require maternity coverage or prescription benefits?

Step 2:
Start searching for all types of self employed health plans online and offline. It is indeed convenient to obtain the quotations from different websites. At the same time, besides searching online, you are encouraged to check with your local chamber of commerce to see whether they offer any low cost health insurance for self employed in the community. At the same time, you may also refer to the trade associations in your industry to find out more insurance coverage. Since you are self employed, do not hesitate to join the Small Business Service Bureau which offers self employed health insurance plans.

Step 3:
Compare the benefits offered and the premium one by one before making your final decision.

How to Shop For Self Employed Health Insurance

August 23rd, 2012

Self employed people are a great target market for companies looking to sell individual and family health insurance plans because of the perceived difficulty of the general public on obtaining private health coverage. In reality, it is really not difficult at all to shop for self employed health insurance.

Although self employed individuals have many choices when shopping for health coverage, the sheer number of choices can be overwhelming. Sometimes well known insurers that sell group health plans can also sell individual and policies for your family. Most shoppers find this to be a viable option since they trust insurers with recognizable names.

If you have a certain company in mind, call or visit the website to find out if they offer policies for individuals.

The easiest and fastest way to find self employed insurance is to use an online shopping service. When taking advantage of a service such as this, most of the time you just fill out one form and you will get free, no obligation quotes from multiple insurance companies as opposed to going to each and every website and filling out separate forms for each insurer. Besides making it easy to compare quotes for health insurance, you will usually get lower quotes by using these services because the insurers know that you are comparison shopping and will have to try harder to be more competitive.

Being self employed can be a very rewarding experience. However, there can also be many hurdles along the way. By being smart and efficient by shopping for insurance online, your self employed health insurance shopping experience doesn’t have to be such a big obstacle.

How To Get Self Employed Health Insurance

August 15th, 2012

There are a variety of places online to look for self-employed health insurance. There are many different kinds of life insurance policies and they all provide different things. The most affordable kind of life insurance is called term life. It is a type of coverage that usually lasts for a specific period of time.

Different types of health insurance

Another kind of self-employed insurance is known as permanent life insurance. It is usually more expensive and lasts permanently. It also usually builds cash value as time goes by. With a whole life type of policy, it usually builds value over a period of time around 20 years. Once you receive the cash, you can use it towards the payments for your premiums.

If you are looking to acquire insurance until you are 100 years old, there is a type of policy known as universal life insurance. You can also purchase something called a return of premium policy. With this type of coverage, you have the option to pay extra for your term life insurance policy. If you outlive the time period, you will be able to receive the money you paid back.

The Requirements for self-employed health insurance

To receive self-employed health insurance, a medical exam is usually required before you can receive it. On many of the websites that offer health insurance quotes, you can usually receive the quotes free and then be able to apply for the policy right from the convenience and privacy of your own home.

If you prefer, you can also apply and receive approval for your policy over the phone with a reputable insurance agent. Once you get approved and the insurance company receives your payment, your coverage begins. Even though many people find searching online for a good insurance policy tedious, it is a great idea for you and your loved ones to be covered in the event of something unexpected happening. You can also receive a self-employed insurance deduction.

It pays to be covered by a good policy

It offers you peace of mind and assurance, which is very important in the uncertain world that we live in today. Unexpected events can happen, and it is always a good idea to be covered by a good policy in case it does. One thing to note is that a self-employed policy cannot be canceled at any time, even if there are changes in your health. If you are sure to answer all of the personal information questions honestly when you apply, then you should be covered for the duration of the policy that you decided to purchase.

Many people are turning to the Internet for all of their insurance inquiries and needs. It takes the complications out of finding the right one for you and your budget. It is very important to shop around a bit and receive several different quotes. This way you will be sure to make the right decision on which one to purchase. Also, many people purchase this type of insurance to pay for expensive funeral costs. But individuals who do that are usually older and more concerned over these types of issues.

How to Get Affordable Self Employed Health Insurance That is Comprehensive

August 9th, 2012

Do you own your own business or plan to? Do you work out of the comfort of your own home? Are you self employed? If so, there is probably one thing weighing heavily on your mind each and every day you work for yourself; I need healthcare insurance at an affordable price. How do you obtain that coverage for the health of your family? Well, most employees receive medical insurance from their employer but since you are your own employer it can be difficult to find the right health coverage with low premiums. Never sacrifice quality and service for low prices. If you are looking for affordable health insurance you should consider organizations that have a strong reputation; not companies that you have never heard of before.

Everyone needs medical health care, whether you are working for a major corporation or if you are working for yourself. If you are working for yourself then you more than likely would like to have affordable rates, not costs that will break the bank. People that are self employed and don’t have health care insurance is a larger group of people than those that are self employed with it. A lot of self employed people find it very difficult to pay the premiums for their own medical health coverage because there aren’t any discounts involved. Many companies are able to obtain discounts on premiums for their employees because the company is purchasing health insurance in one lump sum.

You have probably looked at more than a handful of health care plans if you are self employed. This can be quite a daunting task and can take hours on end to complete all of the research required to find the right health care provider. There are discount card programs or a la carte coverage offered by insurance providers today. Some of these options can be can be extremely expensive for people that are self employed.

So what can you do if you are self employed and need medical coverage? A new trend developing in the world of self employment is people within the same industry banding together to form somewhat of a union. Say for example freelance writers. If you are a freelance writer working for yourself, band together with other freelance writers to negotiate insurance prices with providers. Doing this could get you and your peers lower rates on health coverage plans because you are applying for it in large groups.

If you were employed with a company before becoming self employed, more often than not your hmo coverage from that job will last for six more months before you are removed from the company’s plan. If you become self employed, there is an option you can look towards when searching for health coverage. That option is short term medical insurance. Short term health insurance lasts anywhere from six to 12 months at a time and not any longer than that.

If you know that you will be self employed for a certain amount of time, sign up for short term health care. Maybe you are dating someone at the time and are planning on getting married in a year. Once you are married you can be covered on the health policy of your spouse while still running your own self employment business. So, if you have your life planned out and know that your future spouse will have medical coverage insurance, your best bet would be to sign up for short term health insurance. This can cost you less money than a full-time health plan since it lasts for a shorter amount of time.

Believe it or not, some companies will allow you to stay on their health plan for longer than most companies if you leave on good terms. So, if you made a good impression on your company and your boss, ask him or her if you can stay on the health plan for longer than normal. This can help you stay covered with health insurance even while you are self employed. It will also help you pay the premiums, which will be significantly less than paying for a health care plan on your own.

Paying for your own health insurance can be costly, especially if you have any pre existing conditions like asthma, heart disease, or any other medical conditions. Providers might not want to cover a person of your medical condition because you are not working with a company.

Finding the right health provider, as mentioned earlier, can be quite a daunting task and a long task. Once you perform the proper research on each available company, narrow the choices down to your top five. Ask your peers in the self employment industry you are working in about the companies you are interested in to see if anyone uses one of those companies.

Don’t forget; don’t sacrifice quality and excellent coverage for lower prices on premiums. Don’t let the health care companies take advantage of you either. If you conduct the proper research and take the time to investigate each company, you should be satisfied with your results.

How to Get a Self Employed Health Insurance Quote

August 3rd, 2012

Getting a health insurance quote for self employed individuals is actually very easy and many medical insurance providers will give you a free quote on their website if you just provide some basic information about yourself and your family. It’s important to know what insurance companies are going to ask you before you provide the information, so this article is designed to help you through that process.

The first question you will likely answer to get a free insurance quote is “What’s your gender?” As medical research shows, men and women have very different health parameters and face very different medical obstacles throughout their lives. Women tend to live longer, while men tend to take more risks and are subject to more health complications. Again, these are generalities. Still, it’s important to know how and why a health insurance quote for self employed individuals may turn out higher or lower.

Of course, the health insurance company will also ask you for your age or birthdate. Obviously, the older you are the higher risk you represent for the insurance company. Younger self employed individuals need far less medical attention, while the older self employed will be much more likely to visit the doctor or even the emergency room.

Unfortunately, there’s nothing you can do to avoid these primary questions. Your gender and age cannot be negotiated or altered in any way when requesting a free self employed health insurance quote. It’s also very important that you ensure these items are listed accurately when you complete the insurance quote form to prevent later changes to your quote. In most cases, the insurance provider will adjust your initial quote up or down to arrive at the final premium, but it’s still helpful to prevent last-minute changes.

Most self employed individuals shopping for health care coverage need to invest a good amount of time doing research to find the best coverage for the best rate. Once you commit to a company because of a quote and plan that satisfies you as a self employed individual, you’ll want to avoid any major changes so as not to lose the invested time. Also, for this reason you will want to do additional research on the company itself. For example, if you are interested in a plan with Blue Shield or Kaiser Permanente, it is a good idea to do additional research on how reliable these companies are. You will also want to do research to find out who you will select as a primary care physician and whether or not that physician is covered under your target plan.

Try this approach: Use three different websites to get your initial self employed insurance quotes. Then, select your favorite two plans from each quote site. Once you have these six plans to consider, take time to compare and contrast each of them to find where you might be able to get the same coverage for less money. Saving money is important for everyone, but if you are self employed it can make or break your business.

I hope these general tips are helpful. Finding insurance is not exactly fun, but it can be fast and easy if you use a simple system and do sufficient research on self employed insurance plans.

Help Is Available For Those In Need Of Self Employed Health Insurance

July 30th, 2012

As the costs of medical care continue to spiral higher and higher, a good health insurance plan is more important than ever. Without a comprehensive health insurance plan, even minor illness, or something as wonderful as childbirth, is far too expensive for many people to afford.

Most people acquire health insurance coverage through their employers, their spouse’s employer, or though agencies of the government. But for those who call themselves “boss,” such options are rarely available. If you work for yourself and own your own business, then it is likely that self employed health insurance is your only available option.

Sifting through all the self employed health insurance options can be an arduous or even impossible task. Fortunately the Internet is filled with resources that can provide you with assistance in cutting through the mountains of information and options. Not only can you find articles that provide helpful hints, there are websites that will help you shop every option as well. By entering your personal information, such as height, weight, age, and some basic medical history, you can receive specific insurance quotes from multiple providers of self employed health insurance.

While individuals without a pre-existing condition are likely to find self employed health insurance coverage on the Internet, it is equally likely to be expensive. If saving money and reducing costs is a priority, then you can reduce your level of coverage by opting for a plan that will leave you with high out-of-pocket expenses, but with coverage in case of a catastrophic illness or injury.

Opting for a higher deductible can also reduce your premium payments, often by as much as 50%. Both aforementioned options are best suited for individuals who are generally healthy and who make infrequent visits to their physicians. One last money saving tip: if you make your payments annually rather than monthly you can avoid fees and take advantage of prepayment discounts.

Another self employed health insurance option is to join an association of business owners. Just because you work for yourself does not mean you have to stand alone when acquiring health insurance. By utilizing the buying power of a group you can acquire premium rates that are typically much lower than the rates that are available to individuals.

If an association seems like an appealing option, then a good place to start your search is with organizations like the National Association for the Self-Employed, American Association of Home-Based Businesses, the Home Office Association of America, or the National Business Association. You can even look for local associations that may be able to help, so make sure to make a call to your local Chamber of Commerce as well.

Regardless of the option you choose, do not forget that the federal government acknowledges the expense of self employed health insurance, and under current tax laws you can deduct all of your health insurance premiums on your tax return (as long as the total expenses do not exceed your net profits). Also make sure to investigate any tax benefits and assistance that may be available for your respective state as well.

Acquiring self employed health insurance can be a daunting and intimidating task, but you do not have to do it alone. There is help available for the self employed, so take advantage of what the Internet, business associations, and the government have to offer.