Health Insurance Options For The Self-Employed

As increasingly more Americans are going to work for themselves, starting small businesses or working as independent contractors, the need for self-employed health insurance is on the rise.Unfortunately, health insurance for the self-employed tends to be more expensive than employee-offered group insurance plans. This may be why well over half of all self-employed Americans don't carry an insurance policy. While this saves them money in the short-term, it can be financially disastrous when they find they need to go see a doctor.Getting Group InsuranceGroup insurance is cheaper because everyone in the group increases the group's purchasing power. Most people get group insurance from their employers, but it's not the only way. Those who are self-employed do have some group insurance options. You can get group insurance plans from some trade or professional groups, civic organizations and churches.For those who are just becoming self-employed, you can keep your group insurance plan for up to 18 months with a program called COBRA. COBRA simply extends your employee-offered insurance policy until you can get on your feet and find your own. It can also help you make the transition to a new insurance plan. For more information, and to see if you are eligible for COBRA, have a look at their website.One way to save money on your insurance is to use your working spouse's group insurance plan. If you spouse works for a large company whose insurance plan extends benefits for families and spouses, you may be able to get on their insurance. This is a good option for those who are just starting out with their own business. It's not individually tailored to you, but it will save you money that you can spend on your start-up costs.Getting Your Own Individual PlanWhile looking for a good individual health insurance plan, remember that you are in control. Shop around and interview the insurance agents. There are lots of options available to you, and many companies to choose from, so don't go with the first good one that comes along.You also have to read the fine print and understand every detail of the health plan they offer you. When you are looking at different companies, check with your state's insurance commission office to see if any complaints have been made against the company.