What are your Self Employed Health Insurance Needs?

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Finding affordable Self Employed Health Insurance can be one of the biggest challenges we face as entrepreneurs. Until now, options have been limited. Those coming from group policies where half of the premium was being paid by their employer are often shocked by the fact that an individual policy for them, or their family, can cost double or triple the premiums they were paying before.

Furthermore, most companies offering individual policies use a cookie cutter approach and have limited options for coverage. Very often folks are paying extra for things they don’t need, and have too little coverage for the things that are most important.

Let’s look at some of the benefits that are most important to include in a policy for self employed individuals and where you can go to find them.

Accessibility and Financial Stability – You need to know that the company is reachable with a dedication to good customer service, and is financially stable enough to be around longer than you are.

Flexible Plan Design – Most importantly, you want a plan that can be customized to fit your health care needs and budget

What are your Self Employed Health Insurance Needs?

24 Hour Worldwide Coverage – Whether for business or pleasure, you need to know that you are covered when you are outside the U.S. or Canada

Plan Portability – Check to be sure the plan will port to your next home in the event that you move or change jobs. This is hugely important if you in fact have an illness while under an existing policy as you will then be facing exorbitant premiums with your new provider, or worse the inability to get re-insured

Coverage On and/or Off the Job– Most people are shocked to find that their existing coverage does not extend to the workplace. Often workers’ compensation applies to everyone but the individual who took out the policy. This can expose you to a serious gap in coverage. (Be sure and check with your existing provider for clarification)

An Income Protection Option – This literally puts money back into your pocket on a daily, weekly, or monthly basis, when you are hospitalized and cannot work. No one is paying for our sick days when they occur so this option can keep a business afloat when working is not possible

No Pre-Admission Authorizations or Referral Requirements – Time is of the essence for the self employed, so when you know you need a specialist it’s important to be able to go straight to them

Freedom to Choose any Doctor or Hospital – Even if the plan chosen is a PPO (Preferred Provider Organization) you need to know that coverage will be available outside of the network and how much more that will cost

Preventative Care Benefits – While few plans for preventative care pay large benefits, you can receive discounts on these services. It does in fact make sense to pay a little to take care of yourself now so you are not paying a lot later. Make sure in addition to physician office visits it allows for chiropractic treatments, acupuncture, and routine physical exams including x-rays and labs

Self Employed Health Insurance is not nearly as expensive or hard to obtain as it used to be. What’s important is to find a health insurance company that understands the specific needs of the self employed. The National Association for the Self Employed , the largest non-profit of its kind, has teamed with Mega Life and Health Insurance Company to deliver a benefits plan addressing all of these concerns. The NASE has used the negotiating power created through sheer number of members to have access to affordable health care. You do have options for self employed health insurance.