In a recent article published by Insure4USA.com, highlights tips for the self-employed individual seeking lower health insurance costs.
Online PR News – 03-February-2012 – – While healthcare costs continue to escalate, individuals find it even tougher to procure affordable health insurance. For self employed individuals the task becomes even tougher. However, in a recent article published by Insure4USA.com, there is still hope for the self employed individual seeking lower health insurance costs. The article which was recently released on the online insurance service’s website addresses areas that individuals can seek to reduce their premiums considerably. Alex, CEO of Insure4USA.com says, “On the bright side, there are several options for self employed individuals. The first option is for self employed individuals who consider quitting their job in order to start a venture of their own. These individuals have the choice of extending their health insurance coverage through their current employer. Many aren’t aware of this choice which is available to them courtesy the Consolidated Omnibus Budget Reconciliation Act of 1985, where an individual can extend their coverage for up to 18 months after leaving their employer. The only drawback is that you end up paying in full since the employer isn’t liable to pay his portion.”
The article by Insure4USA.com offer a number of other valuable tips for the self employed. Married individuals ought to consider adding their spouse to a group health insurance plan which are much cheaper and has the potential to save a significant amount of money in the long run as compared to individual plans. However, if a group health insurance plan isn’t an option there are several other options for individuals. When asked to elaborate on these options, Alex said, “Health insurance is a complex affair and the Patient Protection and Affordable Care Act (PPACA) brought into force by the Obama administration has changed the way health insurance providers deal with issues such as premiums. Nevertheless, an individual plan or a plan that includes dependents is always a viable option for the self employed person. Rates are higher although they vary and are based on several factors. Those with a clean medical history would obviously attract lower premiums while those with pre-existing conditions end up paying more. Purchasing an underwritten policy in the open market is one way to reduce the cost as long as an individual has a reasonable healthy medical history.”
Another issue highlighted in the article by Insure4USA.com is 'guaranteed issue' states that guarantee a fair health insurance cost to individuals irrespective of their health condition. The option is available in select states and is a boon for self employed people who may not be in good health. Another plus point for the self employed is that some of their health insurance costs are tax deductible, which can reduce the overall expenses on an adequate health insurance plan.
To access the full article, readers can go to http://www.insure4usa.com/self-employed-health-insurance.html
Insure4USA.com provides online insurance quotes and informative resource pages to help consumers make the right decisions when considering the purchase of insurance policy.