Group Health Insurance For The Self Employed

The growing market demand for group health insurance for the self employed means you have a number of options not previously available. Those options start with basic COBRA plans and extend to association-endorsed programs. Know the market and your needs, and you will be able to provide insurance to yourself similar to the benefits given by many employers.

COBRA Coverage

For the newly self-employed, the Consolidated Omnibus Budget Reconciliation Act of 1985 may allow you to extend your employer benefits for approximately 18 months after leaving your job. Your employer will not continue to contribute to the cost, and this makes COBRA options expensive to take on.

Individual Programs

There are many plans on the market for individuals with healthy histories to purchase independent policies. If you are self employed and seeking an individual policy, be sure to get enough coverage to avoid excessive bills in the case of a major emergency.

Spousal Elections

If you are married, and your spouse has group health insurance through his or her employer, you may be able to elect coverage through that existing plan. If you have a pre-existing health concern, this may be your best option to keep costs low.

State-Sponsored Health Insurance Plans

If your state has a health insurance risk pool, you may be able to locate group health insurance for the self-employed through this resource. Be careful, some states have better programs than others.

Association-Endorsed Risk Plans

Many association-endorsed risk plans have recently come into question. Be wary of moving forward with this type of group heath insurance for the self-employed without careful due diligence.


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