Self Employment Insurance
I currently am employed but my wife is self-employed. I'm considering going full time with my small business but don't want to lose the health benefits package I have at my job. What are some good options for health, vision and dental insurance for self-employed individuals?
Hi Michael, There are so many options to chose from and a little complicated for the self-employed. Click on the link below and you can input your data for the state you live in and it will display the results. Hope this helps.
There are several ways to do it. If you are previously employed, you can extend your previous health insurance through COBRA by paying for both your contribution and the employer’s contribution; this usually gets you a good but expensive policy. If you’re married you can often get covered under your spouse’s insurance. Many states used to have small business groups that you could join for health insurance which provided cost effective policies, but that was banned by the PPACA (Obamacare). You can get PPACA exchange policies, but they tend to provide relatively poor coverage for the price so there’s little reason to do that now that the individual mandate has been eliminated.
With the individual mandate gone, some insurance companies are starting to offer noncompliant plans - plans that don’t meet the PPACA requirements, but which tend to be cost effective for healthy people who don’t have preexisting conditions. Hopefully we’ll start to see small business groups offering them again.