Self Employement Health Insurance

March 16, 2017, by Liza Martin

If you have a small company you may find it difficult to afford to offer health insurance benefits to your employees. If you are self employed and you have no employees finding affordable health insurance options for yourself can often be a challenge as well.

Maybe you have a little company with just 2 or 3 employees. Or you are the guy that works for himself by himself in the home office. Could you be the contractor that has no company backing benefits.

Either way it would be a huge financial burden if you had to take time off work and pay all your medical bills in full if you become sick. This is the main reason health insurance is so important. Not for the convenience or prestige! It gives financial security.

There are options for you. The smartest way to look into your options is the world wide web. Research all the many plans , carriers and rates. Decide what your budget is and what you can afford. Explore the pros and cons of individual health insurance.

There are so many carriers and they all have a variety of plans to compete for business. You can find the bare minimum plans to cover you if something major should occur. Or the full package, that covers office visits and prescriptions.

You can even get quotes for small group health insurance. Many carriers offer this option to business with 3-50 employees. This option can be very expensive however since the rate depending on many factors of all in the group including health.

If you can not afford the Group health insurance many carriers will do a list bill for you. You can offer to pay a certain amount for your employees and then they can choose their plan and what they want to spend. The carrier then send one bill to the company and you make deductions accordingly.

When you start searching for health insurance it is not always easy to understand. All the plan lingo can be confusing. Total out of pocket versus deductible does not make sense to many. In this case it is smart to enlist the help of a broker. A broker can walk you through the plans and enrollment process. They can even assist you once you have purchased if questions should arise.