If you are self employed and does not have a health insurance plan then you have to think again.
In these hard times, when recession is at its peak and medication is so costly, a health insurance plan is a very cost effective way of insuring yourself against any major health problem. A self employed health insurance plan is applicable to those who are not covered under a group health plan. In the United States of America, self employed medical insurance is available under the COBRA, which is Consolidated Omnibus Budget Reconciliation Act of 1986. Under this act, a person can continue to avail group health insurance benefits even after he or she has left a job for a period of 18 months.
Though this might be one of the available options to take a self employed health insurance, there are several personal health insurance policies for self employed individuals. If you are healthy and have a good medical history, purchasing a health insurance plan is easy. But this does not mean that you’ll bye pass some legal formalities. An individual still needs to fulfill some of the legal requirements to purchase an insurance policy. One also has to ensure that the policy chosen is the most cost-effective one available. One should shop for a policy that covers the maximum medical expenses at reasonable rates. One of the most important things to keep in mind is to see whether the policy covers pre-existing diseases or conditions that an individual suffers prior to signing on policy papers.
There are some advantages of self employed health insurance plan over a group health insurance plan . In a group health insurance plan offered by the employer, a person cannot choose the cover. However, with a self employed health insurance policy, one has the option to select the type of insurance based on the coverage.
In most case you would be offered 100 per cent tax deductions on the annual premium paid under a self employed health insurance plan. Thus taking a self employed health insurance plan has dual benefits. It saves your money and also ensures you against any kind of health problem.
But before you take a plunge, it is good idea to look for alternative online quotes from several insurance companies and choose from among them. All you need is a bit of research and understanding of intricacies of a good self employed health insurance policy online.
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