Affordable Self-Employed Family Health Insurance - Where to Get It
Posted on June 24, 2009
If you're self employed, family health insurance is likely a concern for you. Do you and your family have coverage for routine health care and major medical problems and accidents?
Perhaps you're lucky enough to have a spouse who has a health insurance policy through his or her work. If not, you need to come up with a plan to ensure your familys medical care.
COBRA
If you're leaving a job that offers health insurance, one option is to continue your current medical coverage for up to 18 months through a COBRA plan.
Because your employer will no longer be paying part of the premium, COBRA is an expensive option. However, it may be your best choice if you or someone in your family has a pre-existing condition that would not be covered under a new plan.
Risk Pools
Another option is to join a health insurance risk pool if your state offers one. Such a pool would provide coverage for you and your family, possibly even for pre-existing conditions.
However, you need to compare the cost and coverage the policies available on the open market. Risk pools tend to be higher and so should be a last choice.
Individual Insurance
Your best option may be to buy a family health insurance policy. For the most affordable policy, consider medical networks such as HMOs and PPOs. Both types of policies offer lower premiums in exchange for less flexibility.
If you're really on a budget, consider purchasing partial insurance coverage such as a hospital confinement policy that covers only hospital expenses, or an accident only policy that covers medical expenses caused by an accident.
You can use an insurance comparison website to compare several different plans and choose the one that offers the mix of cost and benefits you are looking for. You can choose just the coverages you want, the deductibles you want, etc.
If you're in doubt as to which policy would be the best for your circumstances, the better comparison sites offer a chat service that lets you talk online with an insurance expert.
Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get affordable self-employed family health insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written numerous articles on self-employed and family health insurance.
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