Self Employed Health Insurance
March 15, 2008
There are 10.6 million self employed US workers who know how difficult it is to get quality health insurance. With the US economy slowing down, this number is likely to rise. For married people, their spouse who is working can get them coverage through employers.
In November, most companies start open enrollment. It is then that your spouse can add you and family to her plan. The COBRA act can be useful in the meanwhile. You can use this option even if your spouse does not have group insurance.
There are some drawbacks to COBRA. It wont apply if your ex employer has folded and is not covered under a health plan anymore. Under this plan you will need to pay the full cost of the employer and a 2% admin surcharge.
The Kaiser Family Foundation says that less that $60 is paid by the average employee in a group health insurance plan. However more than $300 is paid by employers.
There is guaranteed health insurance in some states whereby even a one person business cannot be turned down. In some states the requirement is atleast two people. You need to prove that you have a real enterprise. Joining an industry group or a local chamber of commerce may be a good option as well.
