Self employed medical insurance You can save money
BySelf employed medical insurance Read this and quickly learn what is the best way to find health insurance if you’re self-employed.
Everybody wants to work for themselves, but little do they realize that when you do work for yourself you also have to provide for yourself the benefits package you used to get with your employer. These benefit packages included matching funds in your retirement program, vacation pay and of course a wonderful health insurance policy for you and your family.
Now that you have taken the plunge and become self-employed you need to find an affordable medical insurance plan that doesn’t send your new business down the tubes.
The good news is when you own business you have a vast number of options to choose from when it comes to health insurance.
The best way to go is with an individual health insurance plan because this tends to be the least expensive. This is especially true if your spouse is covered through their employer.
Another thing to think about is if your spouse is covered through their employer it might be cheaper for you to get on their policy. This is what Jimmy does. Mary has a good health insurance policy with the company she works for and she added me on with her.
Another option is to get involved with a small group and get a group health plan. This can take place when a group of small business owners band together and some states require only two people to make up a group in order to get group insurance coverage.
The good thing about this is if you are older, being involved in a group of younger people can bring down your cost. If you are younger, being involved with a group of older people will raise your cost.
Tax laws keep changing but as of right now 100% of your individual medical insurance is taxed deductible. It would be a good idea to check with your tax attorney every year regarding this.
Jimmy says there’s a lot of options out there if you have to buy your own health insurance so do your homework and compare prices.
Whoa Jimmy?
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Self employed medical insurance does not have to break the bank and if you have any ideas in this area please share with our readers in the comments
