With work from home businesses springing up everywhere health insurance is becoming a matter of concern for many of us. Statistics tell us that as many as 40 million Americans have no health care plans at all, and just because you are self-employed this does not have to be the case. This can be avoided by deciding what your needs are, understanding your options then finding the right company for you.
One of the first thing to realize if you are leaving your former employer and he or she has more than twenty workers you are entitled to retain your old insurance under the Consolidated Omnibus Budget Reconciliation Act (COBRA) at a higher rate. The cost is higher because lower group rates are’nt available, yet this may be the best option for many of you. The idea here is to formulate a list of your needs, decide what you are able to afford , explore all options then go shopping. With the economy and the political climate the way it is you may have more options than you think.
One major policy difference in Health care is short verses long term coverage, again it depends on your needs. If there”s a great new job waiting in the wings or plan to hang on until retirement and draw you benefits through the government short term may be what you want. Short term policies only last for weeks or months while long term policies last for years. Basically most of us will be looking and comparing long term coverage.
Health Care is a large but necessary expense for self-employed businesses, another factor to throw into the mix is pre-existing conditions. As with all new business start ups knowing what you are able afford in the way of expenses is crucial, this is also true with individuals with a fixed income. Almost any health plan that accepts pre-existing conditions will do so at a higher price.
When you are searching for insurance that will cover you, always beware of scams and frauds. Look into personal testimonials, and always figure out what kind of reputation the company has online. A few complaints are normal, but too many and you will want a new carrier.
Health care is like car insurance, when you need it , you really need it. As in all things in life or business options abound and all we have to do is explore them. For many of us we let our employer make health care decisions for us, so this is a new experience and therefor frightening, it doesn’t have to be. Set your own guidelines and stick with it.
