Affordable health insurance: self-employed health insurance

If you are self-employed, you may think of health insurance as a luxury. When you are just making ends meet, paying several hundred dollars a month for something you may not need is not a priority. Or you may not be able to find a health insurance company to insure you because of a pre-existing condition. If you don’t have health insurance, trust in the hope that you don’t get sick. But if you do, your business suffers.

If you can’t get individual health insurance, or if your premiums are out of the reach of an individual policy, there are several ways to get cheap and discounted health insurance and health care.

Look into state-subsidized programs

Many states offer discounted premiums for low-income families and independent business owners. Others have established “risk pools” that lower their health care costs by spreading risk over a “group” of people, much like employers do with group plans.

Check with your state Health and Human Services office to see what health insurance discounts may be available to you based on your income. In most states, the income eligibility standards are quite high, especially in states that offer premium assistance with private health plans. You can get a substantial discount on family plans by joining a state health insurance plan.

Join a discount health plan

Many organizations have developed special discount rates with health insurance companies for their members. You can find discounts on health care and health insurance through your Chamber of Commerce, Small Business Association, even AAA auto clubs or fraternal organizations.

Another option is a discounted medical club. For a monthly fee, typically around $ 30, you are eligible for discounts of up to 25% on regular costs for office visits, medical supplies, and prescriptions, as long as you use participating member providers. Check online to find a discount medical club that has members near you.

Itemize your taxes

Starting in 2003, if you itemize your taxes, you can deduct 100% of your health insurance cost for the year from your taxes. There are limits and restrictions, so check with your accountant or visit the Internal Revenue Service website online at http://www.irs.gov.

Compare the cheapest rates

You can insure yourself through a fee-for-service individual health insurance plan for less than $ 100 a month by looking for the best rates online. In many cases, you can get online quotes for up to 10 different health insurance companies and choose the one that suits you best. You can even apply online and be covered within 24 hours.

Unexpected medical costs can destroy your business. Some creative backgrounds and unusual options for dealing with them can prevent that from happening.

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