Learn About Individual Health Insurance
If you’re self-employed, individual Health Insurance Marketplace can be your best choice to enroll in flexible, affordable, and quality health coverage that works well for self-employed. But when it comes to freelancer’s individual health insurance options, a lot has changed since last 6 years. Now freelancers have many more protections, they can shop around to get the best coverage, and many even qualify for a tax credit.
As for many self-employed workers, health insurance is still a huge expense. This blog will help them understand how the insurance system works, and what dos and don’ts can help make smart coverage decisions:
Understand the basics
The ACA has created subsidies to help reduce the health insurance cost: individuals who fall below a certain income threshold may qualify for a tax credit that will lower their Obamacare plan’s premiums. Before you start, understand the basics of getting individual health insurance plan.
Opt for higher deductibles
Deductibles are the better way to get premiums down. You should know that catastrophic plans have higher deductibles. If you do get ill or injured, you can’t apply for a tax credit and will have to pay a lot more out-of-pocket for your catastrophic plan. But a healthy person can save enough with lower monthly premiums
Look for a short-term health plan.
Freelancers choose to cut their health coverage cost by getting short-term health plans, offering lower premiums each month. First, short-term plans can discriminate against people suffering from the pre-existing condition, or may refuse to provide preventive care services because these short-term plans don’t have to meet the Affordable Care Act standards.
Miss the deadline
If you missed the open enrollment period deadline for 2017, it’s probably too late. Now you may apply via special enrollment period if you have experienced “qualifying life event” for example, getting married, moving to another state, adopting a child, etc. To apply for a special enrollment period,visit Healthcare.gov.
Buy individual health insurance now!
We take care of self-employed people. If you’re looking for affordable health plans for you and your family, contact us at www.personhealthinsurance.com.