Self Employed Health Insurance
One of the biggest concerns for many people considering quitting their job to start their own company is over losing their employer-sponsored health insurance. These fears are definitely legitimate given the spiraling cost of health care and the murky world of self-employed health coverage, but it is still possible to find affordable health insurance for you (and your family) even after you cash your last paycheck.
Some employers will offer COBRA coverage for a certain time period after you leave the company, but I’ve found that you may be able to find a better deal elsewhere. Before I quit my job, I compared the cost of the COBRA plan with self employed health insurance options I found on eHealthInsurance.com, and was really surprised by the different variety of plans available. With all the talk about low cost health insurance is going extinct, and the proposed COBRA cost of $300+ a month for just one subscriber, I was pleasantly surprised to see a selection of self employed health insurance plans under $100 a month.
eHealthInsurance.com is basically a comparison shopping engine for individual, family, and small business health insurance. They are the largest and most well-known service of this kind. You can get quotes from multiple health insurance providers and only submit your information once. It is completely free to use, and I thought it was a really valuable tool. Since I am relatively young and healthy, I opted for a lower cost plan with a higher deductible, but they have self employed health insurance plans with all levels of coverage.
Now that you’re self employed, you’re responsible for your own individual health insurance. And while the newly mandated penalties for not having coverage don’t kick in for a few years, there is no reason to risk your good health in the meantime, especially when many self employed health insurance plans are very affordable and still provide excellent coverage.
No comments yet.
