Being self-employed gives you the freedom and flexibility to be your own boss.
However, one major drawback of being your own boss is securing your own affordable health insurance.
We all know that our nations healthcare system is perfectno notes!
But lets pretend that, sometimes, hypothetically,figuring out health insurance is a shitty hellscape.
Even with all the hurdles, going through life without health insurance is not worth the risk.
Heres how to get started.
Shop the marketplace
This is your first stop, and ideally its a one-stop shop.
To start looking for private plans, go to the federal governments health insurance marketplace atHealthCare.gov.
The website includes information about private plans that are available for purchase outside of the marketplace.
Withopen enrollment kicking off in a few days on Nov. 1, now is the time to start shopping.
For more, heres my formula for figuring outhow much you better budget for health expenses.
Some groups, like chambers of commerce or freelancer organizations, provide insurance options for members.
Rates are often cheaper when purchasing as part of an association.
Similarly, you’re free to look into health-sharing ministries.
These nonprofit religious organizations connect members who share healthcare costs.
The major thing to keep in mind here is these plans are not full insurance.
Essentially, its a personal savings account that can be used only for medical expenses.
Pairing a high-deductible marketplace plan with an HSA can provide significant tax savings.
Ultimately, having access to an employer plan often provides more options at better rates.
They have less coverage but lower premiums.
The bottom line
Finding individual coverage takes more effort when youre self-employed, but options do exist.
Weigh costs, coverage levels, and subsidies to get health insurance that meets your needs.
Reaching out to an insurance agent or broker can also help navigate your choices.
