Self Employed Health Insurance: How to Manage?

Finding health insurance is a big problem for those who are self-employed. At present days, almost 42 million people – one third of the work force of America – work for themselves. These people find it difficult to get a good healthcare policy. Apart from self-employed people, part-timers also face the same problem. Some means are given here, by which you can manage health insurance plan for yourself even if you are self-employed.

Medicare will cover majority of your health care costs.

• If you are about to retire and are 65 years old, you will get the benefit of Medicare. Medicare will cover majority of your health care costs. In 2011, big firms that have more than 200 employees offered retiree health benefits to their one out of four employees. Some companies also provide their retired employees the option of buying health insurance through the company plan.
• You will be saved from buying an individual policy if you have a partner who works in a company that offers family coverage. For family coverage, your partner has to online casino review pay higher premiums but the expense will still be less than an individual plan.
• COBRA or the Consolidated Omnibus Budget Reconciliation Act offers dental and health coverage for those people who have left their job recently. The benefit lasts for 18 months for the outgoing employees and their families. However, this policy is very expensive, as you have to pay the entire insurance cost along with 2 percent administrative fees.
• Joining a professional group can be another option for self-employed people. Some specialized and trade groups offer health insurance apart from group coverage rates. Some of such groups are associations of alumni, bar, or church.

Individual policies are expensive for older people.

• If you are in a good healthy condition, you had better purchase your own policy. Covering up for catastrophic illnesses, many policies are there with high deductibles and low premiums. However, individual policies will be expensive for older people, especially who are over 55 years.