Make Sure You Are Insured

If you are like most people that are self employed you need insurance. The number of people that are self employed and need insurance is far greater than the number of people who are self employed and have insurance because it can be very difficult to get insurance when you're self employed. Most people get insurance through their workplace so if you are on your own and self employed and need insurance you have to buy your own policy which can be so expensive that most self employed people can't afford to pay the premiums.

If you're self employed and need insurance you've probably looked at all kinds of health care and health insurance options like discount card programs or ala carte coverage but sometimes even those options are too expensive for people that are self employed and need insurance. So what can you do if you are self employed and need insurance? One thing that you can do is join a group of other self employed people in your industry. To negotiate a better price for health care, some groups of self employed will form a loose union.

Often this can be a good way for those people that are self employed and need insurance to get it but sometimes if the people who in the group have serious medical conditions or pre-existing conditions the rates that are charged by a major health insurance carrier to cover the group are too high for some of the members. In that case or if you have no major health conditions or problems you might be able to save money by getting insurance from a company that specializes in helping the self employed who need insurance get coverage. The rates you might pay for these private companies can sometimes be high, but overall more affordable than you may think. Health insurance shouldn't become a luxury when you become self employed. See if your employers health insurance coverage can be extended (COBRA) to you for a while if you plan to leave your current job. Sometimes your health care coverage will remain valid for as long as six months after you leave the company which gives you some time to find a new health insurance company.

Usually when you leave on good terms (COBRA) is extended to you and your family. Although it may be somewhat expensive since you'll have to pay for the first three to six months, it might be worth it in the long run. Ask your employer if it is available when you leave. Being without insurance for any period of time can be scary, because if something should happen (Murphy's Law) the hospital bills could stack up and could make things difficult.