Health Insurance

Health insurance is a ongoing concern that keeps a lot of people from living the dream of working for themselves. 

You may start thinking about issues and questions questions like "How can you afford to pay hundreds of dollars in monthly premiums?" or "What if I dont take insurance and then become to ill to work!"  Because you may have financial commitments and a minimum earning threshold that you need to maintain.

You are not alone, there's lot of people that have been worried about the downside to being self employed and worry about not being able to work due to potential illness and other health related concerns.

Here's some advice to help you find a solution if you are a self employed contractor or freelancer.

Health insurance for Contractors

Take advantage of your Spouse's Policy
If you can obtain health coverage under your working spouse's family policy, that's usually a great way to go. Your spouse may be required to pay a small additional premium, but it's likely to be much less than what you'd pay for your own policy. Check with your current insurer first before you do anything. 

Volume Group Rates:  there's value in memberships
If option A is not avalable, dont worry yet and dont call the insurers as an indivdual also. First, get in touch with professional associations or trade groups in your sector, find out if thier membership  would give you access to discount rates on insurance. Generally the bigger the membership the larger the discounts, contractors looking for health insurance may be surprised that is a community of members in your niche.

Managed Care v Traditional Insurance
If all the above still are not an option then you are likely to have to go out and buy your own individual  heath insurance cover. Ask managed-care companies whether they offer special rates to self-employed, contractors like yourself and also make them aware that you are a serious buyer - it may mean a better quote.

When you look at the quotes that come through, look at more than the cost at hand. The cheapest quote may not have enough cover or have stipulations in that effect any potential claims that you make.

Whatever you do, dont take your first quote, do shop around for the best deal and try to take advice where-ever possible. And one last recommendation, is to not leave something like buying health insurance to the last minute, or worse still not to buy any at all.