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Self-employed Health Insurance
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Many young people feel that they are young and healthy and so they do not need to worry about health insurance, especially when they have to pay for it on their own. Insurance protects your assets and your finances. Health insurance can make health care more affordable. There are several options for the self-employed. If you are considering becoming self-employed, you need to have your independent insurance in place before you quit your current job. Here are the different aspects you should consider when getting your own health insurance.
High Deductible Health Insurance Plans for the Self-Employed
You should consider how much you actually go to the doctor. If you are healthy you may be safe buying a catastrophic or high deductible plan. The deductible is the amount you are required to pay out of your pocket, and then the insurance covers everything after that.
Traditional Health Insurance Plans for the Self-Employed
If you use insurance more often, you may consider using a traditional health insurance plan. You can find these through a local insurance agent or by searching on the Internet. You should carefully consider how much the insurance plan would cost you if you use it.
Shop Around for the Best Self Employed Health Insurance Plans
Take the time to shop around. Many insurance agents cater to the self-employed and offer a variety of health insurance plans. This may take a little extra time, but will ultimately save you a great deal of money. It is important to realize that the savings on premiums from a high deductible account may make up for the difference in out of pocket cost. You should consider the maximum that you will have to pay on each plan.
Avoid Coverage Lapse
It is important to avoid having your coverage lapse. If your coverage lapses, you will have waiting periods for certain conditions and problems. You may consider purchasing short term insurance to cover any lapse you may have between jobs. Most plans will renew automatically, but you need to make sure that is the case with your health insurance plan.
Private health insurance is a good idea if your employer does not provide you with insurance or if you are self-employed. Whether you opt for an individual plan or a family floater policy depends on whether you are purchasing the policy only for yourself, or if you are looking to insure other members of your family. Health insurance saves you from a financial burden that you may, otherwise, have had to face in case of a medical emergency.
It is very essential to have a health insurance policy. Author Pranav Sharma is an experienced insurance professional and widely read expert on general insurance based in Mumbai. Pranav helps readers opt for best health insurance policy in India.
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