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Acquiring Self-employed Health Insurance

Apr 22nd, 2011

self-employed health insuranceSmall businesses and the self-employed make up a very large part of the working landscape throughout the country today. The days of only the large corporations hiring additional employees is a part of the past that seems to continue lingering. Part of this is because there are not enough large corporations to sustain the mass population in employment.

Affordable health insurance for the small business owners and the self-employed was once non-existent, but the world has changed over the years. The attention of the entire economy is currently being built by the hard work and selflessness of the small business owners and the self-employed.

Today, the major insurance providers have included separate insurance policies to accommodate most diversions of the working landscape and to their credit. The one consideration is the cost factor to include all the necessary medical coverage that is under consideration.

Unfortunately, even the most low-cost health insurance today is so expensive that many small businesses and self-employed entrepreneurs are taking a second look. Some have already cancelled their current insurance policy and there are many more who are in the process. Others are foregoing the renewal of their insurance policy, which will then leave many without any health protection.

A few years ago, self-employed health insurance was easily accessible and at affordable rates depending upon the type of coverage. Today it has become next to impossible to carry an annual insurance policy because of the high cost and rising deductible.

There are a few states that allow a new category called the business of one, which is a new additive to the health insurance industry to cater to the necessary requests of the self-employed. Perhaps one day this business of one insurance category will spread across the country and become part of the fabric of all states, but for now this is not possible.

Considering that pre-existing medical conditions still have a waiting period of over one year, it becomes difficult to purchase a health care policy when it is virtually worthless to the recipient. This may be a prudent move for the larger corporations because they deal with volume, but this does no good for the individual entrepreneur.

How all of these decisions will play out since the passage of The Patient Protection and Affordable Care Act is still unknown. The affordable care act is law, but there are many deciding factors yet to play out in the court system before any final judgment is rendered.



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