Insurance Plans for Self-Employed People
The responsibility of being your own boss means being responsible for supplying your employee adequate insurance coverage. According the National Center of Health Statistics more than 30 percent of self-employed people are uninsured. President Odama's health care reform allows individuals the opportunity to obtain coverage more easily. National insurance providers such as HumanaOne and Aetna offer a variety of affordable plans for self-employed individuals.
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HumanaOne: Enhance Copay 80 Percent Plan
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HumanaOne's copay plans are ideal for those self-employed individuals who enjoy features found in employer-sponsored plans. You pay low yearly deductibles and monthly premiums. On the other hand, all doctor visits and treatments require a copay. Annual deductibles range from $1,000 to $2,500 depending on your personal information. When you use an in-network provider, all your preventive care services are covered at 100 percent. In-network hospital services are paid at 80 percent. Enhance copay includes a prescription drug coverage. HumanaOne offers customers discounts on treatments such as chiropractic and massage therapy.
Aetna: Open Access Managed Choice Value
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Aetna Managed Choice plans give self-employed individuals optimal flexibility. It lets you choose your deductible price and coverage plans will vary accordingly. With choice value 10000, you pay a $10,000 deductible, and it allows you the freedom of directly visiting recognized specialists and professionals with all expenses covered. It pays 80 percent of all home health care, as well as physical and occupational therapy. Hospitalization and skilled services are covered at 60 percent. Aetna has 37 million members and a nationwide network, which allows comfortable coverage if your business requires traveling.
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Assurant: One Deductible Plan
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Assurant One Deductible plan is a high-deductible health plan that lets you avoid paying for benefits you never use. With high-deductible plans, you pay what is considered a "high deductible cost;" however, you do not throw away money for costly premiums if you never go to the doctor. Assurants One Deductible plan provides financial hardship protection if anything unexpected does happen. One deductible covers health expenses such as prescriptions. Assurant rewards qualified customers with 10 percent off renewal fees. It also gives customers the option of choosing Assurant's innovative Health Savings Account.
Health Savings Accounts
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Health Savings Accounts are tax-advantaged accounts that work in collaboration with high-deductible insurance plans. According the IRS, the minimum deductible for a HDHP is $1,200 to obtain a Health Savings Account. It helps you cover medical expenses, plus you do not have to pay taxes on medical expense withdrawals or contributions to your account. Interest that accumulates is tax free as well. Any amount of funds remaining in your account at the end of a plan year is rolled over into your account for the next year. You own your HSA, so you cannot lose it, which makes it a useful retirement tool for entrepreneurs.
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