How to Navigate Health Insurance for Self-employed Individuals

Navigating health insurance as a self-employed individual can be challenging. Unlike traditional employees, self-employed individuals must take the initiative to find and manage their own health coverage.

Navigating Individual Health Insurance

The following are four key steps to help you through the process:

1. Assess your needs. Start by evaluating your health care needs. Take into account aspects like your age, current health status and any ongoing medical treatments. This will help you determine the level of coverage you require.

2. Compare plans. When comparing plans, consider the following:

     a. Premiums—These are the monthly cost of the plan.

     b. Deductibles—These are the amount you pay out of pocket before insurance kicks in.

     c. Copayments and coinsurance—These are your share of the costs for medical services.

     d. Network—Ensure your preferred doctors and hospitals are in-network to avoid higher costs.

     e. Coverage—Check what services are covered, including prescription drugs, mental health services and preventive care.

3. Plan for the future. As a self-employed individual, your income may fluctuate. Choose a plan that offers flexibility and consider setting aside savings for unexpected medical expenses.

4. Seek professional advice. If you’re uncertain about which plan to select, think about consulting a health insurance broker or advisor. They can offer tailored recommendations based on your unique needs and financial circumstances.

Learn More

By following these steps, you can navigate the complexities of health insurance and secure the coverage you need to protect your health and financial well-being. Contact United Benefit Solutions, LLC to discuss your health insurance options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.