A Brief But Informative Guide on Health Insurance Options for Entrepreneurs
Just because you’re an entrepreneur, doesn’t mean you can’t have great healthcare coverage. Read on to learn the best health insurance options for entrepreneurs.
You’re finally doing it! You’re going to take the leap and turn your hobby into a full-time business.
There are so many things you need to think about beyond the running of the business. For example, you are now totally responsible for paying your taxes, which also means paying quarterly taxes.
It also means that you are now responsible for finding and getting your own health insurance. Do you know what your health insurance options are? Keep reading and we’ll help you get started.
If you are transitioning from employment with a company to self-employment then consider buying COBRA insurance. There is a federal law that lets you keep your health insurance for a certain amount of time after you leave your company job.
Many people find the Healthcare Marketplace website difficult to use, that’s where Stride Health comes in. This California based company focuses on finding quality health insurance for entrepreneurs.
The plans you browse on this site all qualify under the Affordable Care Act. They’ve been so successful that they are Uber’s health insurance broker.
Depending on the industry you work in, you may be able to get quality health insurance through a trade organization. You could also check with your local chamber of commerce.
There is the National Association for the Self Employed that offers health plans. If you do decide to go this route, make sure you factor in the cost of membership to know the true cost of your insurance.
The Healthcare Marketplace is a great place to go if you have tried your other options or are unsure of what you need. Just go to the website and fill out an application to see if you can qualify for savings and tax credits.
Savings get calculated based on your income level and household size. There is also an open enrollment window from October to December that you need to be in.
If you are over the age of 65 or receiving Social Security Disability you can qualify for Medicare coverage. This is a federal health insurance program.
There are two parts to Medicare, A and B. Part A will cover your inpatient hospital needs. While part B covers the typical medical insurance things like doctor visits and blood tests.
You also have the option of custom tailoring your coverage with Medigap coverage. Click here to learn about how Medigap coverage fills in the holes that Medicare can leave in your coverage.
Consider Your Health Insurance Options
It is important to shop around and consider all of your health insurance options. Never go with the first plan you see.
Think about your past health insurance needs and the current state of your health. Then you can compare plans that will fit the needs of you and your family.
Make sure that your business is covered with these essential insurance coverage plans.