Working for yourself offers freedom and flexibility. It also means taking responsibility for your health insurance. Whether you’re a freelancer, independent contractor, or small business owner, a few basic steps can help you explore your options.
Start by checking what coverage is available. You may be able to join a spouse’s employer plan or purchase individual and family insurance through Covered California or directly from an insurance company, with help from a licensed broker. If your business has employees, group coverage may be worth exploring.
Financial assistance may be available through Covered California, depending on household income, household size, access to qualifying employer coverage, and other eligibility requirements. Some family members may qualify for Medi-Cal.
Fluctuating income can make the application process feel challenging. For marketplace coverage, estimate your household income for the year you want insurance. Self-employment income generally reflects business income after allowable business expenses. Other household income may also count. Update your application when circumstances change, since financial assistance may change, too.
When comparing plans, look beyond the monthly premium. Check your doctors, hospitals, and prescriptions, along with deductibles, copays, and other expenses. Consider what you could comfortably afford during a slower business month or an unexpected medical situation.
Enrollment timing also matters. Losing job-based coverage may create a special enrollment opportunity. Becoming self-employed alone does not automatically qualify you.
Watch the video below for a straightforward introduction. Before speaking with a broker, gather your estimated household income, household information, doctors, medications, and current coverage details.
At Margie Cummings Insurance, we help you understand your choices and find coverage that fits your needs and budget.
You have questions, we have answers. Contact us today!
CA Insurance License #0B27034. General educational information only. Coverage and eligibility vary. Consult a qualified tax professional for tax guidance.