Tax deductibility Self-Employed
Individuals and Families are typically
able to deduct 100% of their premium
amount. Make sure to verify with your
accountant for your particular
situation.
High Deductible plans Since the
self employed person is both paying the
premium and receiving the benefits, it
usually makes sense to look at a low
cost, high deductible PPO plan that is
comprehensive. Compare the annual
savings in premium versus the Maximum
out of Pocket possibility. If your
savings in premium accounts for a
sizable amount the potential out of
Pocket maximum, then it might be a good
decision. In a bad year (health wise),
it's a wash. In a good to average year,
you stand to save the annual premium
difference. We would be happy to help
with this health insurance comparison.
Qualifying for coverage The
first decision for the self-employed to
make is whether they can qualify for
Individual/Family health insurance based
on health. Individual - Family health
insurance is medically underwritten
which means you can be declined or have
rates increased based on health. Small
Group health insurance, however, is
guaranteed issue as long as you qualify
as a group. The main conditions to
qualify are: having at least 2 people
formally tied to the company (ownership
or payroll), company pays at least 50%
of the employee's premium; at least 75%
of the eligible members go with the
plan. Small Group potentially offers an
option for self employed people who may
not qualify for Individual coverage. We
would be happy to help with this health
insurance comparison.
You can get your California Self
Employed health insurance quote for
either option here:
Individual -
Family Health Insurance
Small Business
Health Insurance
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