Best Self-Employed Health Insurance Plans

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What are the Best Self-Employed Health Insurance Plans

Healthcare emergencies can be quite expensive for all of us. However, if you are self-employed, it would be a nightmare to realize that you have insufficient funds when you need treatment that demands quick attention.

So, the best you can do is get self-employed health insurance. It is also great to get it for your dependents too. Health insurance can give you peace of mind, and be an enormous help in case of an emergency.

Reasons why health insurance matters for the self-employed

Self-employed health insurance plans are essential for small business owners and freelancers

Self-employed health insurance plans are essential for small business owners and freelancers

Finances – Being a self-employed person, you have various responsibilities on your shoulders. So, when it comes to protecting your finances, purchasing a health insurance plan is a wise decision.

With a good self-employed health insurance plan, you can easily meet unforeseen medical costs. In addition to this, you may get discounted rates at the doctor’s offices as well.

Livelihood – Starting a business is not easy, we all know that.

You must have put a lot of time and effort, and had many sleepless nights to build your business. And considering it as your main or sole source of income, you would never want poor health and unanticipated medical expenses to ruin it.

Also, keeping in mind the high cost of hospitalization nowadays, there can be chances of going bankrupt due to a major injury in case you do not have a health insurance plan. Not being able to work, and then losing your funds in medical bills is an unbearable loss.

To save yourself from falling into such a situation, you need to act smart and invest in a health insurance policy that works best for you.

The insurer will cover all your health care costs and may even detect a medical issue before it escalates, keeping you healthy, thus, letting your business and clientele grow. When you are healthy you will work more efficiently.

Health – Health is wealth, it is a fact no one can deny, and it is an obvious reason why a self-employed person must opt for health insurance.

Your health condition directly affects your livelihood. As said above, if you are healthy you can work more efficiently and competently. Having a health insurance plan can be a motivating factor to lead a healthier lifestyle.

Your health plan might cover either fully or partially your regular health checkups thus giving you access to preventive care.

Another benefit you gain with a self-employed health insurance plan is that you get access to quality health care at an affordable price.

Therefore, you have no reason to neglect a cold or fever or any minor illness that could get severe in the future.

Save on Taxes – As a self-employed person, if you pay health insurance premiums for yourself and your family members, you are entitled to a special tax deduction.

According to IRS, you can deduct 100% of health insurance premiums which includes dental and long-term care coverage. However, it is important to understand that this is not a business deduction, it is a special personal deduction.

It applies only to your federal, state, and local income taxes, not to your self-employment taxes. The dual benefit of health protection and tax rebate makes it a favorable deal for a self-employed individual.

These are the few benefits you gain with self-employed health insurance and if you are looking to invest in health insurance, there are a few things to keep in mind.

Things to Keep in Mind When Purchasing Self-employed Health Insurance Plan

Self-employed health insurance plans: Here's what you need to pay attention to.

Self-employed health insurance plans: Here’s what you need to pay attention to.

Compare Coverage Options

Evaluate all details of your preferred insurance plan and look at what it covers. Don’t make any quick decisions as what might ‘look good on paper, might not be the best for you in the long run.

Read the fine print and talk to your health insurance provider to clear all your doubts.

Manage your Money

Ensure your expected monthly or annual income is enough to cover your premiums. Since you may be working alone or have a small team, you would have to be on top of things for your own sake.

If by chance you end up making more money, do not overlook possible payments that you have to clear.

You can buy self-employed health insurance at the Affordable Care Act (ACA) Health Insurance Marketplace. However, if you plan to go with a private health insurance company, you have a lot of options. Some of the best ones are:

United Healthcare

It is the largest health insurance provider in the U.S offering a range of plans such as ACA-compliant plans, indemnity coverage, and high-deductible health insurance plans.


This insurance provider is present in twenty-two states and offers affordable health insurance plans. However, they offer only long-term plans.


They offer plans both privately and through the health marketplace exchanges. Aetna offers a broad range of healthcare plans and their plans are an affordable way to reduce costs for many common health services.

So, these are some of the health insurance providers you can go with to purchase self-employed health insurance policies.

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