Health Insurance Responsibility
Feb 1st, 2011
Stepping away from the world of an employer, employee relationship is not for everyone. However, there is a large portion of the population who does step away after considering what type of self-employed business they wish to endeavor. Working for years and having an employer funded health insurance plan seems to slip from the radar until after you walk away.
It does not take very long before you realize the additional responsibilities that you must give your attention to before you are able to start your journey with a new business. The best place to begin is to talk with an insurance agent to gather the information you will be requiring to begin your self-employed business.
You can take notes and discuss the issues that concern you to give yourself a better chance of understanding the different types of affordable self-employed health insurance that is available for your needs. If you have a spouse, this would be an opportune time to discuss the issues that concern you.
Perhaps your spouse is employed with a firm full time and has a low cost health insurance policy. There is a possibility that you can be added to the spouse’s insurance policy while you focus on getting your new business established. If this is possible, it will save you time and money for the year ahead. However, remember that it is still your responsibility to acquire an insurance policy sometime in the future when you become established. You will suffer down the road if you do not.
There are other options for an affordable health insurance policy that are available to you such as the health savings account, and individual insurance policy, or the opportunity to purchase a health insurance policy through a group. These are issues for you to research and decide which of the options will best serve your particular requirements.
Part of your decision process will be contingent on your current availability to funds and your health issues if there are any. Healthier individuals do well with the health savings account as the choice of primary insurance. You will have more freedom of choice with the health savings account, but it does come with certain restrictions and a high deductible.
This may be the appropriate insurance policy for you when there are no pre-existing health care issues because the money that remains will roll over into the next year. The idea is that no matter what you decide choose the right insurance policy carefully.
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