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How to Buy Group Health Insurance for Self-Employed Workers

You are working from home. You are your own boss. You run your business.

How does one get health insurance coverage when working alone? Are there affordable options for one person to be covered? Where can you find coverage that will work for you?

Health coverage can be confusing, especially when there isn’t a human resources department to help guide you through your coverage options. 

Keep reading to learn more about group health insurance for independent contractors.

Length of Insurance Coverage

How long do you plan on being self-employed? This will determine the best type of coverage for you moving forward.

Short-Term Options

COBRA is an option if you want to continue the coverage of your previous employer, even though you are self-employed now. This typically can last up to 18 months and you will be responsible for the entire premium now that your previous employer isn’t covering any of it. 

There are industry-specific options available in some cases that one can utilize while freelancing for a short period of time. 

Long-Term Options

If being self-employed is a long-term career for you, there are options that are better suited for that length of time. 

The health insurance marketplace is where you can find out what coverages you qualify for. There are private health insurance options that can help you pick more customized plans to fit your coverage needs. 

Since you know that you will need this option for an extended period of time, you should make sure that the coverage and rate are a great fit for you before proceeding with the plan.

Group Health Insurance for Independent Contractors Options

There are association health options that allow members of a group to get coverage by using the group to negotiate a rate that works for the benefits they desire.

In order to get coverage through a group, you must think of what groups offer this and if any of them are a fit for you. The best part of group insurance plans is that they are designed with the group in mind and not meant to fit the needs of millions of people, but rather a specific group. 

There are a few things to think about when considering a group health plan. Being a part of a group typically includes the cost of the membership each year. In addition to this, you will be paying the premium for healthcare coverage.

Some of the organizations and associations are known to have rigorous eligibility guidelines in order to qualify to be a part of their healthcare programs.

Start Searching Today

Now that you are aware of the variety of options for coverage when you are self-employed, you can begin your search today. Finding the right group health insurance for independent contractors will give you peace of mind for any medical needs in the future.

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