What are the Best Health Insurance Options for the Self Employed?

Saturday, 02 April 2011 13:40 Written by Anderson Insurance Staff

health_insurance_options_self_employed When you are starting a business, there are many pressing issues on your mind, but one of the most nagging questions is what to do about health insurance. If you have always been covered by a group health plan, you may not be thrilled with many of the health insurance options for the self-employed.

In order to get the same type of coverage that you used to have through an employer, the monthly premiums would be through the roof, and if you have a pre-existing condition you could find yourself denied coverage altogether. But don’t let these facts stop you from starting your own business; you still have a few options.

Below is a brief overview of health insurance options for the self employed:

COBRA health insurance: If you recently left a job, then you may want to consider COBRA coverage. While this can be very expensive, depending on your plan, it is something to consider if you have a pre-existing condition. However, it only can last as long as 18 months. After that you will need to purchase an individual health insurance plan.

Your spouse’s group plan: If you are married, this is usually a lot less expensive than buying an individual policy; plus, the additional coverage cannot be denied or rated-up because of health issues.

Guarantee-issue health insurance: If you live in a “guarantee-issue” state, you must be given the opportunity to purchase health insurance, regardless of your health background. However, in many cases you must have had continuous coverage beforehand in order to apply for it.

High risk health insurance pool: Out of the 50 states, 34 of them have started high-risk health insurance pools. These pools provide an opportunity for families and individuals to get insurance from state-sponsored plans, even if they have a disqualifying health condition. Each state’s plan varies considerably, and they may still be quite costly, but they offer a viable alternative for self-employed individuals who have pre-existing conditions.

To learn more about the various health insurance options for the self-employed in the state of Arizona, contact Anderson Insurance Services and ask for a free consultation.

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About Jerry Anderson

Jerry is an Arizona health insurance broker and owner of Anderson Insurance Services. He is an expert in all forms of health insurance and represents many of the major health insurance companies in Arizona. Jerry can help you find the best health insurance for the best price. Don’t go without insurance call Jerry at (877) 868-2203 for a free quote on Arizona health insurance.