Health Insurance For The Self Employed
When you become self employed there are things that you will need to handle that before were handled by your employer, health insurance being one of them. In the corporate world, typically Human Resources handles the paperwork, provides information on how the plans worked and the coverage and you could call them if you had any questions. Now that you’re self employed, you are the one who will be in charge of handling that aspect of your business. When you begin to research different policies, it is vital that you do your homework and don’t sign up for the first policy you find. Most importantly, ask questions, you will find that there is a lot of confusion out there that comes along with health insurance. To help you get started, below are some types of insurance that may best fit your situation.
Major Medical
This is the type of insurance that you may have had when you were with an employer. It covers a wide variety of medical treatments, prescriptions, and hospital stays. This plan is flexible as well by choosing the deductibles and amounts that suit you best.
Point of Service
Point of Service insurance or POS for short is where the patient chooses a primary physician and would have all care done with that physician. If you should have to see another doctor for a service that your primary physician doesn’t handle you would need to have them refer you or it may not be covered.
Limited Benefits Plans
This type of insurance covers only certain types of care this is so that you can keep your costs low but still have some types of coverage. These plans differ by state in the amounts and coverage’s that are minimally required.
Hospital Only Plans
This plan is exactly like its name implies, it only covers if you are hospitalized. This plan would only be a good idea if you had the means to cover expenses for regular checkups or lab work that is done out patient.
These are just a couple of examples of the types of insurances that are out there for the self employed. Start with checking out the plans that may be available through your car or home insurance or check and see if the group or organization you belong to offers benefits, you may be surprised.
