Guide To Health Insurance.org

Many people would like the opportunity to work for themselves -- to not be
responsible to an employer, to not punch a clock, to be their own bosses. But
many of them are held back from realizing this dream for one common reason: they
don't want to loose the health insurance offered by their employers. This is
especially true if they have families who depend on the health insurance, too.
Choosing self employed health insurance can be a daunting task. Indeed, it is
one that some people don't even bother to investigate because they simply assume
that it is unaffordable. But if they were to learn more about it, they might be
surprised to discover that self employed health insurance may be an affordable
option for them.

Purchasing Self Employed Health Insurance

It used to be that the group premiums offered by employers were the best bargain to be found in health care; that is not necessarily the case anymore. Many employers are passing the rising cost of health care along to their employees, and asking them to pay a greater percentage of their premiums. This has caused the average cost per month for health insurance to rise significantly.

With a little research, it may be possible to find a private health insurance plan for the self-employed that has monthly premium rates that are equal or even less than that of an employer's group plan. With the convenience of shopping for and comparing rates on the Internet, the task of finding these comparable plans is not difficult.

If you are unable to find an affordable plan, find out if any professional associations you may be affiliated with offer their own group coverage. Some self employed professionals have banded together to get group coverage of their own. While it may not be as comprehensive as an employer offered group plan, it may be a plan that you find acceptable.

Tips for Self Employed Health Insurance

If you have self employed health insurance, your insurance premiums are likely to be tax deductible. The premiums an employee pays for its group insurance is paid out of pre-tax dollars. Because self employed individuals do not have that option, they are allowed to deduct their health insurance premiums. The cost benefit of claiming your premiums on your taxes may offset the added expense of paying for the whole thing yourself.

Take advantage of the new health savings accounts. The self employed can make 100 percent tax-free deposits into these accounts, and then use the funds to pay regular medical bills with tax-free dollars. This makes it plausible to opt for a lower cost, higher deductible health insurance policy that covers medical emergencies. In addition, the unused money in the account accrues interest that can be used to supplement your retirement."