Current Health Insurance Options For The Self-Employed–Researching Different Plans To Meet The Needs Of A Business Owner

With health care still a major topic in our nation, as recently the federal health care initiative passed a potential hindrance from its forward progress, there are men and women who are currently looking for a simple solution to their health care needs through individual health insurance plans, like for those who are self-employed. This legislative issue concerning the federal health care act recently ruled in favor of a provision requiring the purchase of a minimum amount of health insurance in the coming years, but the current job market has brought about more endeavors into the self-employment world and as a result has led to the immediate need of affordable health insurance options for men and women who are self-employed. This may range from health insurance that is for the business owner alone, a business owner and their family, or if a business has added employees recently they could be looking for affordable employer group health insurance also.

Debates are still ongoing concerning national health care legislation, but self-employed individuals who are looking for affordable insurance at the present time may be less interested in this particular topic, as researching plans that are currently available is their top priority. Luckily though, there are some provisions that are already in place that may help consumers, like self-employed business owners, find the coverage they need even if preexisting conditions are in place, options for employees are needed, or other factors are present.

What needs to be focused on the present time though, is how the business owner should go about researching different plans that may be available to meet their needs. It goes without saying, the first step that must be taken is to see whether a business owner simply need coverage for themselves, may be looking for an option that will include their family, or if there are workers that need coverage too, this could complicate matters in terms of what options are available or should be explored. While there are different insurance providers from state to state that may be helpful, employers must make sure that they are looking at the needs of either their employees or simply what they want out of a health insurance plan, as there are minimal plans that can offer a basic amount of coverage, while others can bring more comprehensive health care benefits.

There are some self-employed men and women who have simply opted for a short-term insurance option, which may come with a higher deductible but will guard against high costs if a catastrophic emergency were to arise, but these plans may not meet costs like those associated with preventative care or, as is the case with some policies, there may be dental or vision coverage also.

There are also some tax credits available to certain small businesses that will help them afford health insurance coverage if they have workers who need a policy, but national health care legislation may also bring about new options in 2014 through health insurance exchanges from the states.  Yet, there could be penalties if businesses with a substantial amount of workers, which is usually set at 50 or more, do not provide health insurance.

While there are some men and women who are just getting their small business off the ground, have no workers, and are not looking for a comprehensive plan just yet, looking at what may be required of employers or what may soon be available to those who are simply self-employed will also need to factor into the decision as to what health insurance options that these individuals choose. What is important though, is properly exploring the plans that are available in one’s area, rather than simply choosing a “generic” health insurance plan for a self-employed individual, as selecting a health insurance plan will be only a decision that can be made by an employer. Without being properly educated on the various option like short-term plans or more comprehensive programs, business owners may end up facing higher costs with less-than-desirable coverage on their health insurance policy.