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Going Solo? Here’s how to Beat the Dust out of Insurance Rates (Low Cost Health Insurance for the Self-Employed)
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Being self-employed requires a good amount of self-discipline and a lot of hard work. But at least you manage your own time and is answerable only to yourself, though you can’t fool yourself of being sick just to skip a workday. Speaking of getting sick, you can’t afford to have serious health problems because your source of income will be directly affected. Being self-employed can make you more vulnerable to financial breakdowns due to health problems, more so if you are uninsured.
With the high costs of health insurance nowadays, you can’t help but cringe at the fact that your expenses may rise above your financial profits just because of the high premiums you pay for your health insurance.
So in the world of self-employment, people who are just starting would not get the traditional health insurance that may cost an arm and a leg. Instead, you may purchase a short-term health plan. Yes, it may not be as excellent as the traditional one but it can give you enough coverage at an affordable rate.
Joining an organization for the self-employed will not only give you an opportunity for networking but it also gives you the chance to be absorbed into the organization’s health insurance’s group coverage. And if your business turns out to be a success and expands, you might begin to hire your own employees and have your own company. In this way, you can be capable of having enough money to purchase health insurance for your own company. You can do this by joining an employers’ organization that endows health insurance to small businesses.
Another is the gold-digger’s method. Look for a person with a sizable health insurance and marry him or her. In this way you wouldn’t have to worry about your future health needs. Just kidding. But if you already have a spouse with a health insurance, ergo spouse coverage, then you won’t have to retort to this lowly type of looking for an insurance that will be easy on the pocket.
But if you really got to have a traditional health insurance, here are some ways that would not cause you a leg and an arm just paying for the premiums:
Ø If you unexpectedly find yourself tangled with health problems your insurance will also be in jeopardy. So it is advisable if you also get an income protection insurance. In this way your health and income are protected.
Ø Hold on to your medical vouchers because these can be helpful in the reduction of tax payments. This would be really helpful for those who opted for a catastrophic insurance policy.
Ø Select a catastrophic insurance policy. This will make you pay high deductibles while you store up money for the payment of urgent medical expenses. This only works if you have a valid medical crisis and advisable for people who are chiefly physically fit and healthy.
Ø Stick to the same company where you have purchased insurance before (i.e. car insurance). They usually give discounts to loyal customers.
Ø Lastly, stay healthy and be careful. If you stay healthy and sport a clean and safe lifestyle, your insurance company might give you discounts or lower premiums. Some companies even get out of their way just to encourage and motivate their customers to hit the gym once in a while and eat healthily by giving out prizes and discounts.
With all these tucked under your belt, you can beat the dust out of high cost health insurance rates.
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