Medical Insurance Self Employed: Coverage for the Alternatively Employed

2007-03-08 10:33:40

( Insurance )



SELF EMPLOYED INSURANCE

When you are a free lancer or you work at home, your only option for a medical health insurance is if you purchase a medical insurance self employed program. All insurance companies offering standard group medical coverage provides self insurance as well.

The downside to a medical insurance self employed is that the premiums can be considerably higher, and with fewer benefits. A group or employer provided medical insurance is very affordable because the company shoulders a significant portion of the insurance premiums, whereas for self insurance, you will have to pay the premiums all by yourself. Moreover, insurance companies offer huge discounts and better insurance packages for group or corporate accounts.

Of course, if you are alternatively employed, then you have no other recourse but to get a medical insurance self employed. Medical insurance is institutionalized in our society, and if you do not have medical insurance, paying cash for medical treatments can drive you to bankruptcy. So rather than risk having no health insurance, it would be much better to avail of medical insurance self employed even if you have to pay higher premiums.

ANOTHER OPTION

However, there is another way around this. If you are a member of any association or organization sharing the same self-employment arrangement, then you can talk to your co members and ask them if they are willing to purchase a group insurance for all of your group’s members. Individually, you will be paying your share, but the premiums will be significantly lower because you purchased the medical insurance plans under a group purchase. This way, you enjoy the medical insurance that would otherwise be only available to regular employees.

Group or self insurance, it does not matter what type, as long as you have it in case you or your loved ones become sick and need medical attention.


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