One of the perks of being an independent contractor, freelancer, or self-employed business owner is having more control over your career and destiny. You set the rules and make choices that determine your income. The self-employed must also take charge of their health insurance. If you’re responsible for selecting a plan to cover your medical care, here are four options to consider.

Health Insurance Options for the Self-Employed

1. Partner’s Existing Policy

If you’re married or in a domestic partnership, you can sign on to your spouse’s health insurance policy. Most employers allow employees to insure spouses, partners, and children during open-enrollment periods or after a qualifying life event, such as a marriage or birth of a child. 

2. Healthcare Marketplaces

The Affordable Care Act (ACA) was signed into law in 2010. Since then, millions of Americans have obtained insurance through the ACA’s online marketplaces. During open enrollment, which usually runs from the start of November to mid-December, you can shop for a plan that fits your budget and medical needs. Low-income Americans may qualify for subsidies to help cover the cost of insurance. 

3. Medicare or Medicaid

Self-employed individuals who are 65 years or older may be eligible for Medicare. Medicare—the government-sponsored insurance program for seniors—has different plans for hospitalizations, doctors’ visits, and drug coverage. Each also assigns different co-insurance, co-payments, premiums, and deductibles.

If you meet specific income guidelines, you may qualify to enroll in Medicaid, a federal and state health care program designed for people who can’t afford private insurance. 

4. Trade Organizations

Depending on the industry you work in, trade-based organizations may offer health insurance plans. From freelance writers to IT consultants, trade associations provide medical insurance policies to their members. Search online for trade organizations that provide health insurance to find out if any are available for your profession. 

Being self-employed doesn’t mean you have to worry about health insurance. We at Farmers Insurance Group in Mountain Grove, MO, will help you choose a policy that fits your budget and health care needs. With more than 15 years of experience, we’ll gladly sit down with you to discuss your preferences. To learn more about health insurance options designed for independent contractors and sole proprietors, call us at (417) 926-7900 for a free quote. For more information about our agency, connect with us on Facebook.