Cheap health insurance tips for self employed

October 9, 2010 by  
Filed under Health Insurance

Health insurance is a very important aspect of our lives. If you are self employed, you may want to know a few tips on getting a cheap health insurance plan that has decent coverage. Discount health plans would be the best way to go because they will provide you with decent coverage and they will not require a very large monthly amount paid to the insurance company.
In this article below you will find the best tips for getting cheap health insurance:
If you want to pay a cheaper monthly premium, you need to eliminate coverage for office visits if you are young and do not have children. This is because it is unlikely you will need those. You only need a catastrophic plan that should cover you in case of illness and injury.
This way, you may be able to find premium under $100 per month. You can apply online to some of these insurance companies. However, doing a little research will surely help you save money.
If you want to pay cheaper premiums, you should increase your deductibles. Deductibles are amounts of money you have to pay before the insurance company takes the payment. If you will increase your deductibles, the risk lowers and you will certainly get a lower premium. However, you have to be aware that you might pay a little more when something happens. In the long run this might be a good idea if you are a healthy person.
Discounts are very important if you want to save some money with your premiums. These discounts can be easily obtained if you pay the premium annually. If you want to get the best deal, shop around a little bit and get the biggest discount for paying upfront for the whole year.
Medical savings account is another option if you want to lower your health insurance costs. These are special for self employed and for people who work in a small business. The MSA allows you to save some money in a tax-deferred account that will be used for covering medical expenses.
The best option would be combining this with a high deductible. This way you will obtain a very low premium and MSA will help you pay your deductibles when it is the case.
The health insurance deduction is another way of reducing your overall costs of your health insurance. This has to be done when filing for taxes. You can deduct 70% of the health insurance costs from your income.
In summary, if you are self employed, you have a few options for lowering your health insurance premiums. They are not hard to put in practice, you only have to know them.

Health insurance is a very important aspect of our lives. If you are self employed, you may want to know a few tips on getting a cheap health insurance plan that has decent coverage. Discount health plans would be the best way to go because they will provide you with decent coverage and they will not require a very large monthly amount paid to the insurance company.
In this article below you will find the best tips for getting cheap health insurance:
If you want to pay a cheaper monthly premium, you need to eliminate coverage for office visits if you are young and do not have children. This is because it is unlikely you will need those. You only need a catastrophic plan that should cover you in case of illness and injury.
This way, you may be able to find premium under $100 per month. You can apply online to some of these insurance companies. However, doing a little research will surely help you save money.
If you want to pay cheaper premiums, you should increase your deductibles. Deductibles are amounts of money you have to pay before the insurance company takes the payment. If you will increase your deductibles, the risk lowers and you will certainly get a lower premium. However, you have to be aware that you might pay a little more when something happens. In the long run this might be a good idea if you are a healthy person.
Discounts are very important if you want to save some money with your premiums. These discounts can be easily obtained if you pay the premium annually. If you want to get the best deal, shop around a little bit and get the biggest discount for paying upfront for the whole year.
Medical savings account is another option if you want to lower your health insurance costs. These are special for self employed and for people who work in a small business. The MSA allows you to save some money in a tax-deferred account that will be used for covering medical expenses.
The best option would be combining this with a high deductible. This way you will obtain a very low premium and MSA will help you pay your deductibles when it is the case.
The health insurance deduction is another way of reducing your overall costs of your health insurance. This has to be done when filing for taxes. You can deduct 70% of the health insurance costs from your income.
In summary, if you are self employed, you have a few options for lowering your health insurance premiums. They are not hard to put in practice, you only have to know them.

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