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Health insurance

Coverage for the self-employed?

     
3:36 pm on Jul 27, 2004 (gmt 0)

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What do self-employed folks and contractors do for health insurance? I'd like to take a job as a contractor, but I can't leave my wife and kids without insurance... what can I do to keep everyone covered?
4:08 pm on July 27, 2004 (gmt 0)

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You can start by going to a health care provider's website, and view the plans. You can sign up for them online (or at least request them).
5:02 pm on July 27, 2004 (gmt 0)

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Any recomendations for affordable plans?
6:14 pm on July 27, 2004 (gmt 0)

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What state/country do you live in?
6:30 pm on July 27, 2004 (gmt 0)

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Any recomendations for affordable plans?

I see from your profile that you are in the U.S. So the honest answer to this question is "no." (Unless your definition of "affordable" is different than most everyone elses'.)

If you want a plan that has copays and deductibles similar to those you are getting with your employer's group plan, then you are looking at around $650 to $800 per MONTH as a premium. You can find plans with considerably smaller premiums, but they come with large deductibles. (like in the $3500 range)

Prescription drug benefits are almost non-existant.

Talk to an independent insurance agent though. They ususally represent a lot of companies, and so have knowledge of a lot of different options.

Also check into setting up a special medical savings account. I don't recall the specific name for it, but it provides a means of setting aside untaxed income for payment of medical and prescription expenses.

6:33 pm on July 27, 2004 (gmt 0)

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mattglet,

I'm in northern Virginia, USA

7:01 pm on July 27, 2004 (gmt 0)

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NASE
National Association for the Self Employed.
nase.org
7:06 pm on July 27, 2004 (gmt 0)

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Look into your local chamber of commerce, or any applicable professional organizations. I know my local CoC offers a healthcare plan to members...
7:25 pm on July 27, 2004 (gmt 0)

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You also should talk to your accountant. As I understand it self-employed people can deduct insurance premiums but not out of-pocket-expenses such as co-pays.