Health Insurance Plans And Options For Self-Employed–Are Affordable Health Care Options Available?

Many individuals have become self-employed and, among other financial concerns and needs, health insurance is one of the main focal points that these men and women must address in their search for health care plans to cover them against high health care costs. Recently, the LA Times reported that more Americans are self-employed as a study indicated that, “14 million Americans are self-employed, up from the 9 million that the old data indicated work for themselves.”

Numerous individuals have become self-employed for a variety of reasons like simply being unhappy at their previous employment position or some unemployed men and women have just set out on their own to earn their way during these difficult economic times which are being faced. However, the search for affordable health insurance plans for self-employed individuals is something that many business owners need to address because costs associated with medical treatment or surgery that may have to be met without insurance coverage could be so excessive that it may bleed over into one’s business and cause financial strains.

Sadly, there are also reports that some insurers are hoping to increase long-term healthcare rates in 2011, which could prove difficult for business owners who may need this type of coverage but are looking to find health insurance on a budget. A report on Kiplinger.com stated due to the fact that many insurers had not expected costs to be as high over the past 10 years, they will seek to raise health insurance rates in 2011, but this can only be accomplished if insurers gain permission from state regulators.

Obviously, a self-employed individuals may not have a great deal of capital to spend on their health care, and as a result many have opted for short-term health insurance options until they can get a business up and running. While many younger business owners may be able to find a long-term health insurance plan and simply limit their coverage due to the fact that they may not need a great deal of conditions covered, but will simply need assistance for basic medical costs, like checkups, or coverage in case a catastrophic emergency were to arise.

However, short-term health insurance plans have also been used for this very reason due to the fact that both small business owners, unemployed individuals, or workers who may not have insurance plan from their company can cover themselves against a high amount of medical treatment costs if a sudden illness or accident were to necessitate costly medical treatment. Advisers have often counseled small business owners who are in need of affordable health insurance to simply compare options, look at offers that may be available within their state, and only choose the coverage within a policy that is needed as there are some “basic” insurance policies that may look attractive but could charge the policyholder for coverage on conditions that are not present in the life of a particular small business owner.

While health insurance may still be difficult to manage for some, by researching options, choosing the right coverage, or perhaps opting for a short-term option while a business gets established, entrepreneurs may be able to increase the likelihood of finding an affordable health insurance plan while they are beginning their business and unable to take part in an employer group health insurance plan.