Self Employed Health Insurance Options

One of the biggest concerns among people who are self employed, or thinking about doing this, is that they will not have the proper medical insurance. But what these people do not know is that there are many options that will allow them to purchase self employed health insurance without breaking the bank.

When you begin your search for self employed health insurance, you need to know the three options that are available to you.

Health Maintenance Organization (HMO)

An HMO does not usually have a deductible, and low co-pays of between $5 and $20 are usually in place. With an HMO plan you can only go to doctors that are members. Also, you will select a primary care physician who will refer you to a specialist if need be.

Fee for Service

With a free for service plan you will pay a percentage of the cost that is associated with each visit to the doctor. Most of these plans have a standard 80/20 setup. This means that your insurance company will pay 80 percent and you will be responsible for the rest. Deductibles with fee for service plans usually range from $200 to $1,500.

Preferred Provider Organization (PPO)

With a PPO self employed health insurance plan you usually have to pay a co-pay each time that you visit the doctor. In order to get full coverage under this type of plan you must see a medical provider that is in-network. Of course, you can go to a doctor who does not participate, but you will not receive a high level of benefits. Some PPO plans have deductibles attached to them, whereas others do not.

As you can see, self employed health insurance is available in many different forms. So if you are thinking about becoming self employed do not miss the boat because you are worried about losing insurance coverage. Instead, go out and buy your own!