Typically, if you’re eligible for COBRA, you’ll also be eligible for an ACA plan. When you purchase healthcare through the ACA marketplace, you may also be eligible for subsidies. These include a premium tax credit health insurance subsidy and a cost-sharing subsidy.
There are also state-sponsored health insurance plans, depending on the state. Not all states have them, so check with yours to see what’s available.
When you might want an ACA plan:
ACA plans can vary greatly in provider options and in costs. If you have flexibility in what providers you’re willing to see, and you’re eligible for subsidies, an ACA plan may make sense. You’ll be able to research all your plan options and choose the one that works best for you.
If you have pre-existing conditions, the ACA plan may also be a good option for coverage. Keep in mind, navigating the marketplace can be a little challenging with all the options that are available. You can call the ACA hotline if you have questions.
3. Private Health Insurance Plans
Private health insurance plans are offered all times of the year through
private insurance specialists, like AZ Health Insurance Brokers. Insurance brokers work directly with health insurers and can give you a customized quote that provides you with the best insurance offering for your budget and health needs.
Private plans can also vary widely in price and coverage. If you have a pre-existing condition, you may pay for a more expensive plan with a private insurer. But if you’re relatively healthy, you may be able to get a less expensive plan that still covers you for emergencies and preventive care.
When you might want a private plan:
If you’re not eligible for COBRA, and if you won’t get any subsidies from the ACA marketplace, a private plan can be a good option. You can
get an individual insurance quote for a private health insurance plan within minutes here.
Another benefit of a private health insurance plan is that the customer service can be much better compared to having to deal directly with the insurance company. Your self-employed health insurance broker can become a valuable partner for your business success, one who’s a direct phone call away. That saves you time, stress and hassle from having to deal with impersonal customer service representatives at a big company.
4. Group Health Insurance Plans
If you’ve expanded your business to include at least one other employee in addition to yourself, you can explore
group health insurance plan options. Providing your employees with health insurance coverage can be a good recruiting and retention benefit, as the
Employee Benefit Research Institute reports in 2023, 83% of workers ranked healthcare coverage as extremely or very important when considering job decisions. According to
Gallup, “well-being” is in the top two factors job seekers consider when looking for a new job, which healthcare benefits can support.
How do business/group health insurance plan options work? As the business owner, you purchase the plan and decide on specifics like employer healthcare coverage, copays and deductibles. Typically, employers cover a portion of the plan’s annual or monthly premium cost, while employees cover a premium portion, too.
When you might want a group plan:
If you have at least one other employee and plan to expand your business, it might benefit you as a business owner to offer
group health insurance.
We recently experienced a
Great Resignation, where American workers quit their jobs in record numbers. Professionals are becoming clearer on what they want from an employer. In many cases, this includes health insurance coverage. If you can offer it,
group health insurance plans can help you recruit and retain top talent.
Need Help Getting Self-Employed Insurance?
Self-employed individuals have many diverse ways to secure valuable health insurance coverage. When you work for yourself, healthcare setbacks can also impact your business, so healthcare coverage is an essential part of successful business operations for self-employed individuals.
Consult with an
Arizona health insurance broker to evaluate your options. We’ll talk with you confidentially about your health history and needs, your budget and what you want out of your healthcare coverage. We can then recommend the top health insurance options for self-employed workers, so you can select a plan that works for your healthcare needs, your budget and your family’s requirements.
Call us at 602.617.4107,
contact us online, or email
quotes@azhealthinsurancebrokers.com for more information.
