Health insurance

Coverage for the self-employed?

[VectorJ]

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?

[mattglet]

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).

[VectorJ]

Any recomendations for affordable plans?

[mattglet]

What state/country do you live in?

[john_k]

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.

[VectorJ]

mattglet,

I'm in northern Virginia, USA

[Bradley]

NASE
National Association for the Self Employed.
nase.org

[mivox]

Look into your local chamber of commerce, or any applicable professional organizations. I know my local CoC offers a healthcare plan to members...

[figment88]

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.