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What are the Best Health Insurance Options for the Self Employed?

Learn about the various health insurance options for the self-employed in the state of Arizona. What is best for you?
Saturday, 02 April 2011

health_insurance_options_self_employedWhen you are starting an Arizona business, there are many pressing issues on your mind, but one of the most nagging questions is what to do about health insurance. 

If you have always been covered by a group health plan, you may not be thrilled with many of the health insurance options for the self-employed.  

In order to get the same type of coverage that you used to have through an employer, the monthly premiums would be through the roof, and if you have a pre-existing condition you could find yourself denied coverage altogether. 

But don’t let these facts stop you from starting your own business; you still have a few options.

What is the best insurance option for self-employed Arizona residents?

 
COBRA health insurance:  If you recently left a job, then you may want to consider COBRA coverage. While this can be very expensive, depending on your plan, it is something to consider if you have a pre-existing condition.  However, it only can last as long as 18 months.  After that you will need to purchase an individual health insurance plan.
 

Your spouse’s group plan:  If you are married, this is usually a lot less expensive than buying an individual policy; plus, the additional coverage cannot be denied or rated-up because of health issues.

Guarantee-issue health insurance:  If you live in a “guarantee-issue” state, you must be given the opportunity to purchase health insurance, regardless of your health background. However, in many cases you must have had continuous coverage beforehand in order to apply for it. 

High risk health insurance pool:Out of the 50 states, 34 of them have started high-risk health insurance pools.  These pools provide an opportunity for families and individuals to get insurance from state-sponsored plans, even if they have a disqualifying health condition.  Each state’s plan varies considerably, and they may still be quite costly, but they offer a viable alternative for self-employed individuals who have pre-existing conditions.

To learn more about the various health insurance options for the self-employed in the state of Arizona, contact Anderson Insurance ServicesAnderson Insurance Services and speak with an Arizona health insurance broker.

Read 3033 times Last modified on Thursday, 17 August 2017

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