Affordable Self Employed Health Insurance
May 9th, 2011
There really is no good way for the small businesses and the self-employed to locate an affordable insurance policy no matter which insurance providers they have discussions. This is just one of those things that are going to be very time consuming and very costly. These two groups are left out of the loop. The small businesses and the self-employed will continue to struggle regardless of the health plan model that is currently making its way through the country.
The best advice is to find out if you are eligible to utilize your COBRA insurance coverage from a recent employer. Remember though, not everyone spent time being employed with a company before deciding to open a business or try their hands at being self-employed.
There is no easy way for the self-employed to access an inexpensive health insurance because at this point you are alone. What this means is that you will be assessed as an individual and the cost for an insurance policy will cost you dearly even when you are healthy with no pre-existing medical conditions.
However, if you are under the age of twenty-six there is now a possibility that you can dabble in establishing a business of your own while remaining on the insurance policy of your mother and father. This is one area where you may have access to an affordable self employed health insurance policy at little out of pocket cost to you. Of course, there will be rules that will have to be followed, but this may be the break you need until you are established.
First, you will need to make sure that your mother and father agree to the current terms and will choose to keep you on their insurance policy. Once that is established you will have to observe the number of hours that you record because there are specific rules to be followed.
United health insurance is new to this country. From its conception, it states that when you are employed on a full time basis you may be liable for your own independent self-employed health insurance policy. In this case, just be aware and make a note of the amount of hours you are logging for each week. As long as you remain a part time self-employed individual, you will have little to worry about as long as your annual salary does not exceed fifty thousand dollars per year.
After a couple of years when you become involved full time with your endeavor you will want to research another insurance policy when you begin adding an employee or two to help. Just be prepared that this will cost you a few thousand dollars per annual cycle. However, you will have the opportunity to be reimbursed for a portion of your insurance expenses when you file your Internal Revenue Service Form 1040.
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