If you are self-employed and in need of insurance for your family, there are options available to you. Keep in mind that there is no such thing as “cheap” insurance.
Don’t be fooled by gimmicky sales techniques or flashy websites. If your family is in relatively good health then it is just a matter of choosing an insurance company you trust with premiums and deductibles you can live with.
No longer is it just big businesses who are allowed to use health insurance premiums as business expenses One perk to being self employed is that you can now deduct the cost of health insurance premiums from your federal taxable income. While you can’t use your health insurance premiums as a cause for loss on your taxes, you can claim the deductibles to offset your taxes greatly.
Another option for the self-employed can come through a spouse. If your spouse works outside the home then it may be more financially beneficial to use his or her company insurance. The benefits to this strategy are that you usually can’t be denied and your premiums can’t be “rated-up” due to health issues. Low deductibles and prescription insurance cards are other reasons to look into keeping your spouse’s insurance while maintaining your small business.
With just under 20% of Americans uninsured it is no wonder it is such a hot topic these days. Even many who are insured can’t afford $500 per family member deductibles each year, let alone co pays. So, what are we to do?
For starters, be a proponent for change. Get involved; let your voice be heard.
Universal health care has been the buzz this election year. What many are fighting in countries that embrace this form of health care are long waits, sometimes years. But there are other options available.
Guaranteed issue insurance is highly touted by some. The problem with this form of insurance is that low-risk, or healthy people are over charged in order, some claim, to undercharge those at higher risk. Lastly, there are state risk pools, created for middle income individuals with chronic health problems that lock them out of traditional insurance eligibility.
If none of the above health care options appeal to you, then contacting your state representative is one way to make your concerns heard. Grass roots groups of concerned citizens pushing for better health care can be found in virtually every state. By lobbying Congress to make change, these groups are at least getting a foot in the door to insure that the 45 million plus Americans without health insurance can be covered.
