With the economy gone haywire, more and more people are trying out their hand at running their own businesses. These enterprises are your typical one-man show where the owner does anything and everything. And no, these owners do not have health insurance as a standard benefit. Self-employed or small business owners need to buy their own coverage to secure their individual health. Quotes obtained for individual policies is generally more expensive than group plans. If you are considering becoming an entrepreneur and thus, will have to get your own health insurance yourself, consider these:
- Your needs. The cheapest is not always the most cost-effective policy there is. Evaluate your needs and be sure the policy you get matches them. Pay attention to your pre-existing conditions, medical history, and present health. How thorough a coverage do you need? Do you have any condition that might jack up premiums?
- Your options. Going without health insurance is a bad choice. Despite the confusion, the challenge of finding the balance between costs and coverage is necessary. Your options begin with narrowing your choices down to possible providers, including buying COBRA coverage from your previous employer. Individual health quotes are also a good ballpark.
- Your costs. There are factors that play significant roles in determining which policy is appropriate for you. These very same factors can also help you lower your costs. Therefore, even before navigating the insurance marketplace for the right policy for you, do your homework. Ask yourself questions pertaining to your present medical conditions, your doctor preferences, and your goals for your individual health. Quotes become more useful tools for comparison if you have a goal against which to measure each alternative.
Much like any other insurance policy you might be offered, don’t get sold by sales talk. Take the time to evaluate features and read the fine print. This decision can make or break your future financial security.