Self-employed individuals find it hard to look for health insurance which offers good coverage at affordable prices. The difficulty arises from several factors such as residence, age, health, kind of policy needed and others. In the United States, it is estimated that 42 million people are self-employed, freelancers or independent contractors. People in this team may be part-time jobbers, retired, home-based or launched their own businesses.
But, considering the humongous mass of self-employed individuals, 17 percent thereof are not covered by health care insurance. Generally, health care benefits are easily purchased by employed individuals. This is a benefit which cannot be sacrificed by people who want to pursue self-employment. For self-employed individuals, health care insurance is a luxury which can cut their budget short.
However, since the passage of the Affordable Care Act in 2010, this problem can be taken care of. Under the provisions of the Affordable Care Act, commonly known as Obamacare, a 65 year old individual cannot be denied of health care coverage due to his age. He will be able to purchase health insurance through state insurance exchanges with tax credits for individuals with low and moderate incomes. The Act also guarantees coverage for individuals who have pre-existing conditions. Another incentive of the Act includes the allowable deduction of 100% of the cost of insurance from an individual's income.
Self-employed individuals may take the following factors in searching for the best insurance quote:
- Consider the value of insurance and the type of products offered by the company. Also check the specific provisions of the health reform law and what it means for the self-employed and business owners.
- Take note of the needs of self-employed persons which must be met by the kind of insurance to be purchased.
- Compare the quotes provided by the companies and the benefits to be derived from each.
- Apply for the coverage.
- Pay the premiums.
Individuals searching for insurance coverage may get free, instant health insurance quotes and advice from companies through the customer service option on their websites. Most of these sites offer instant personalize quotes, side by side comparisons, special online tools, customer reviews and industry ratings and personal, unbiased help from licensed agents.