You may be an independent contractor, a gig worker, or simply self-employed, and at some point, you’ll need to enroll in health insurance. There are so many options that it can be hard to choose the best one for yourself. This article will help you navigate the various options and rules for self-employed individuals.
For 74 million Americans, the government’s Medicaid program is a great option for low-income individuals. It’s available to people who are living below 138 percent of the federal poverty level, and it can be a solid choice for self-employed workers. You can find out more about eligibility through healthcare.gov, and enrollment is open all year!
Medicare is a government-run insurance program for people who are 65 and older. It’s commonly used by individuals who don’t have an employer to get coverage. Like Medicaid, it can be a great choice for people who are looking for a low-cost alternative to traditional insurance. Medicare.gov has more information on the components of the program, as well as employment instructions.
The government’s health care program for military families and members is known as TRICARE. It can be a great choice for people who are looking for a low-cost alternative to traditional insurance. You can find more information about the program on the milConnect website. Veterans can also apply to the VA’s coverage programs year-round, supplemented by private insurance or federal programs through TRICARE.
Short-Term Medical Plans
A short-term medical plan can be a great choice for people who are transitioning into becoming self-employed or managing gaps in their current coverage. These types of plans offer a lower-cost alternative to traditional insurance for healthy individuals.
Unlike the ACA, short-term medical plans don’t have to provide essential health benefits, such as prescription drugs and mental health care. These are often criticized for their low levels of protection and for discriminating against people with preexisting conditions. There are 12 states that have outright bans on these types of plans.
Limited Benefit Plans
A limited-benefit plan can be a great choice for people who are looking for a low-cost alternative to traditional insurance. These plans don’t provide all the benefits that people need, and they can be a great alternative for people who are already looking for a replacement for their current insurance. Some types of plans commonly offered in this category include critical illness or accident insurance. A high-deductible health plan can also be a great choice for people who are looking for a low-cost alternative to traditional insurance. However, this plan doesn’t provide all the benefits people need.
Navigating insurance when you’re self-employed can be intimidating, but it doesn’t have to be. These are just a few of the avenues that you can take to ensure that you have the best insurance possible.