Health insurance when you are self-employed

If you’re self-employed, finding the right health insurance plan can be challenging, but it’s also one of the most important decisions you’ll make for your financial and personal well-being. Unlike traditional employees, self-employed individuals don’t have employer-sponsored coverage, which means you’ll need to carefully evaluate your options. Without an employer-provided plan, you’re responsible for finding coverage that fits your unique needs, but that also means you have more flexibility. One of the first things to consider is how much coverage you really need. If you’re generally healthy and visit the doctor infrequently, you might want to opt for a plan with lower premiums and higher deductibles. On the other hand, if you have ongoing medical needs or prefer peace of mind, a plan with higher premiums but lower out-of-pocket costs might be a better fit.

Another key factor is to ensure the plan’s network includes your preferred doctors, specialists, or hospitals. Private plans often have specific provider networks, and staying within that network can help you avoid unexpected expenses. Additionally, you’ll want to evaluate coverage for prescriptions and preventive services, as these can vary widely between plans. If you frequently need certain medications, make sure they are well-covered under the plan you choose.

One more tip—don’t forget to take advantage of tax benefits. Many self-employed individuals can deduct health insurance premiums on their tax returns, which can help offset some of the costs. If you ever feel uncertain about your options, I’m here to walk you through the process, explain your choices, and help you find the coverage that best meets your personal and professional needs.