Low Cost Health Insurance For The Self Employed

By Author: Dennis Alexander
Total Articles: 15
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The freedom of having one's own business, the liberty of being the master of your own self, can be extremely invigorating. However, like every good thing comes with a catch, the freedom of being self-employed is also marred with the anxieties over health insurance. When you are self employed, it becomes even more essential to obtain a low cost health insurance plan.

The reality is that there a lot of low cost self insurance alternatives for individuals not employed with group plans avaialble to them. Most of the companies today offer affordable health insurance options through group health insurance plans.

However, at no cost would it be wise to leave yourself and your family, without the coverage of any health plan. You never can gauge when misfortune might strike, and it is advisable to stay prepared for adversities of all kinds. Here are some alternatives that you can adopt to acquire low cost health insurance.

Family Health Insurance Through Spouse's Employer

The most affordable option that is available is to get the whole family insured under any group insurance scheme that might be offered by ...
... the employer of any member of the family.

COBRA continuation coverage

The law mandates that your employer provides you with the choice of retaining for the first few months of beginning your self employment, the benefits of the health insurance plan that the company offers. However, you will need to pay the total monthly premium that was previously paid by the company in place of the sum that you needed to pay while you were still in the employment of the company. The way to figure out how much COBRA is going to cost you is to find out the percentage your company was paying for health insurance. If your employer was paying fifty percent then you multiple the amount the that your employer was taking out of your paycheck monthly, multiply that number by two and add ten percent. That how much you are going to pay for COBRA if you were to leave your company group plans and take COBRA. Moreover, this security is temporary and you will need to ferret out a suitable low cost insurance plan soon, within the period that you still eligible for COBRA continuation coverage.

Associating Group Health Insurance Pools

There has been a proliferation of Association Group Health Insurance Programs. Most of them are borderline scams and should be avoided at all costs. Most associating group plans were started by the insurance companies to market their products. These Associations sound very legit if yo do not do proper research and the best way for doing that is the internet. Search for their name online and see what other people are saying. You also might want to check with your states insurance commissioner and find out if there were any complaints filed against that insurre that is affiliated with association that you are looking at.

A low cost health insurance plan can be acquired with careful planning and extensive research, so do not lose hope, you are sure to find a policy that suits your need and your pocket as well.