Working as a freelancer will give you the realization that you are not employed by any company or have the flexibility to enjoy benefits of various types. You can maintain the kind of work-life balance you want if you are prepared to manage all aspects of your work by yourself. You cannot ignore the requirement of having health insurance simply because you have decided to begin working as a freelancer or as a self-employed individual.
How much would health insurance cost you as a freelancer?
It would have been great if a single rate could be given to the question raised but however has insurance rates will vary for everyone. If you are concerned about how much health insurance will cost you, you could perhaps get a rough idea that according to the Department of Health and human services the average American holding a federal plan on the marketplace was paying $106 every month after subsidies in 2016. Apart from the federal marketplace options for finding affordable health insurance exist in the country.
Should you be concerned about healthcare and health insurance?
The health care system is being overhauled consistently with a number of changes and other issues being implemented. The regular overhaul is causing concern among many people who have already purchased the insurance they need. When you begin working as a freelancer you expose yourself to a risk because if you are struck by an illness or cannot work because you will not only be losing your income but will also be liable to pay hospital bills and other associated costs for the treatment. As you wouldn’t have a group health insurance plan from an employer it will become increasingly essential for you to have some coverage by yourself. We are offering you some tips to understand how you can insure yourself and the places you should be looking to obtain health insurance as a freelancer.
Freelancing is popular in the United States
Quite a few people are preferring to work independently and deciding to earn an income from nontraditional jobs. Approximately 53 million people in America are presently working as freelancers. It is estimated that around 50% of the workforce in this country will be involved in some form of freelancing by 2020.
Freelancing certainly gives individuals the independence to be self-employed and have a way of life which is different from the traditional workforce. However, it also brings along challenges in the form of finding affordable and reliable health insurance coverage. Fortunately, several options are on hand to choose the insurance from and with proper research and appropriate plan can be found to ensure that you can protect your health and have access to medical care as and when it is required.
Resources for self-employed, freelance and independent workers
It has become easier over the years to find shared office spaces to conduct businesses professionally for freelancers that are working as self-employed or independent workers. Ample opportunities are available to rent office space from companies that are also willing to help the freelancers with other jobs like accounting, web consulting and human resources. However, the area that remains challenging and is often difficult to get help for his finding affordable health insurance for which the freelancer will need to conduct independent research.
Places we have identified to get health insurance for freelancers
You can find several places offering you health insurance even when you are working as a self-employed freelancer. You just need to prepare yourself to conduct the research needed in order to ensure that you get the best plan possible at an affordable rate. Some of the options we have chosen are mentioned below:
Health insurance plans along with supplemental medical plans for dental or life insurance can be offered by the freelancers union. If you are planning to quit your regular job and venture out as a freelancer most insurance companies will offer you an option to convert your existing plan into an individual plan.
These are likely to be more expensive depending on your individual circumstances but you also have the option of saving on the costs when you are working for yourself because it may be significant to cover the difference. When you decide to quit your job you could also qualify to enroll for special enrollment. Ensure that you check the options that are available to be certain you can save money wherever possible.
Ever since the affordable care act was introduced it has become easy to find health insurance from the healthcare marketplace for individuals as well as small businesses. Freelancers are generally not in the small business category but having the information needed in hand will not hurt you in any way and therefore you must be prepared for the changes just in case your business grows beyond your expectations.
The health insurance of your spouse or domestic partner may also be a good option to consider especially because it can reduce the costs of insurance and save you money when you decide to begin working as a freelancer.
You will be eligible to qualify as a domestic partner if you are single but are sharing your home to lead a life as a domestic partner. You must, however, make an attempt to understand the qualifications required to be classified as a domestic partner.
Professional associations, business groups and your local Chamber of Commerce can also give you access to get group insurance if you have taken the care necessary to obtain memberships of the same. Group insurance allows you to become a member of a group of self-employed individuals and gives you access to the type of insurance which had been provided to you by your employer.
What kind of health insurance plan should you choose as a freelancer?
You can use different strategies to find the most affordable health insurance policy for yourself. Health insurance is normally based on several factors and insurers will be considering your individual circumstances and needs before they make an offer to you. At the same time, you also need to figure out the plan that will work best for you and make a decision only after careful thought.
However, you can certainly begin to believe that health insurance for freelancers is indeed available at affordable costs if you are prepared to spend some time and conduct the research necessary.