Health Insurance for Solo Entrepreneurs

Having health insurance is so incredibly important. If you fall ill or are in need of major medical care, you want to be certain that it is paid for. However, solo entrepreneurs are not going to get their insurance through businesses, so what options are available for them?

A Spouse’s Insurance
If you are a solo entrepreneur who is married, then you need to consider going onto the plan of your spouse. If he or she is unable to afford having you on there, then you might offer to pay a little bit of money. After all, funds are not coming out of your paycheck for insurance. Generally, businesses are certainly going to allow you to go onto your spouse’s insurance policy. Be sure that you are not just getting married for insurance!

Your Parents’ Insurance
Depending upon how old you are, as well as whether or not you are still in school, you might be eligible to go on your parents’ insurance plan. Now, if you are mature enough to start a business by yourself, then you are certainly old enough to make sure you are providing your parents with the appropriate amount of money for the insurance plan. Find out for how long you are able to be on there. In any case, it will probably cost less than buying your own insurance plan.

Purchase Your Insurance
When neither of these aforementioned methods work out for you, you can look into buying your own health insurance. A few different possibilities exist, but COBRA is one of the most popular options that a lot of people will purchase. COBRA stands for the Consolidated Omnibus Budget Reconciliation Act of 1985. However, whenever you are looking for it in, you are likely just going to search for COBRA. Other options are available too if you are not particularly interested in this one. Remember, you will also need dental insurance, and you might need insurance for the eye and ear doctor as well.

Find a Clinic
Now, what should you do if you do not have insurance at all, and you are not able to buy any at this current time? Well, you still need to have your medical needs taken care of. In or near many communities, you will find clinics that offer healthcare services for people who are not able to pay large sums. You absolutely need to look into these entities in order to ensure that they are safe and clean. You do not want to spend any more at all to go to a place where you might be injured or become ill because of the practices employed.

Being a solo entrepreneur can really be fun, and you will certainly have the opportunity to explore some very specific interests of yours. Of course, you’ll be making money along the way and that is probably a major reason why you began this undertaking in the first place. Still though, you want to make sure you have appropriate health insurance.

Author Jason Harter got his degree from one of the Top 10 Best Online MPH Degree Programs and uses it in his health insurance profession.