It takes a lot of research, good information and solid knowledge of the system to really get affordable or advantageous self employed health insurance. Did you know that according to the Consolidated Omnibus Budget Reconciliation Act (COBRA) you have the right to continue with the same kind of insurance after giving up a corporate job? You may pay the same premium rates as the rest in your group for up to 18 after quitting.

If you want to benefit from this kind of self-employed health insurance according to COBRA, you should inquire for details, rights and benefits with the US Department of Labor. Even so, when you pay for self-employed health insurance, the price tag is usually a shock given that you have to provide full coverage. On the average, an employee only pays 28% of the monthly premium, as the rest is covered by the company. You have one other option to reduce the premiums.

During the open enrollment period that precedes your departure from the company, you can file an application to continue paying for a health insurance plan that is less expensive. Then, the COBRA coverage will apply to that policy and your self-employed health insurance will be more advantageous for a while. When the COBRA benefits are over, you have to find another type of health insurance, and you are still insured for 63 days during this period.

A working spouse could reduce the trouble of the self employed health insurance, by the possibility of joining the same insurance plan. This option is usually more efficient from the financial point of view, and the premiums are often lower than the COBRA option too. Don’t make any decision unless researching it well. This means that you have to compare as many health insurance plans as possible in order to get good coverage for decent money.

Then, a plan with a higher deductible may allow you to make some savings in the tax-free health account. This money can be later used to pay for the medical expenses that do not get coverage or reimbursement by the health insurance plan. More money can be saved if your business grows and you start hiring employees. Small businesses can get you a better form of self employed health insurance plans than an individual plan.

Tags: affordable self employed health insurance, health insurance, self employed health insurance

This entry was posted on Saturday, March 13th, 2010 at 10:25 am and is filed under Pet Insurance Costs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.