SELF EMPLOYED HEALTH CARE: WHAT MEASURES ARE BEING PUT BY LEGISLATORS ?

2007-03-08 10:33:40

( Health )



Challenge to Self Employed Individuals

Employees are given the advantage of benefiting from the group based health care plans paid by their employers. Small business owners do not have such benefits. They are faced with the challenge of providing optimum health care insurance to their families while paying its premiums from their own pockets. Self employed health care, actually, is becoming to be a bigger concern in the United States. Millions of self employed families are found out to have no medical coverage.

Tax Relief and Lower Premiums for Self Employed Health Care

Current legislations allow many self employed individuals avail of tax relief when they purchase their self employed health care insurance policies. The key is to choose self employed health care insurance policies that have higher deductibles. It will help lower the amount of premium payments that self employed individuals will pay for their health insurance coverage. Insurance policies that have higher deductibles are assured to still cover your family’s medical insurance needs in terms of catastrophic coverage and preventive health care benefits.

Bill for Self Employed Health Care

A bill for a Self Employed Health Care Act of 2006 was passed in the United States Senate and House of Representatives to address the growing concern on self employed health care. The bill seeks to amend the stated law in determining self employment tax. It proposes to include self employed health care insurance premiums to the business expenses of the self employed. These business expenses are deducted from the total taxable income of the self employed individuals. Deducting the self employed health care insurance premiums from the net earnings of the business makes health care affordable for self employed individuals and their families. It will also ensure that they will prioritize getting self employed health care insurance for them and their families.

American legislators recognize the growing number of self employed individuals in the country and are starting to put measures to ensure their needs starting with their health care needs. It is just a matter of time when all the necessary measures are put in place for the benefit of the self employed sector.


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