Health insurance for self employed workers is critical because, as your own boss, being out of commission could mean being out of money to pay your bills. You might think health insurance can only help with significant issues – your appendix bursts, you break an arm or have a baby – but that’s just the tip of the spear. Medications, vaccinations, screenings, annual exams, vision checks, and routine blood work are just some of the everyday medical expenses that you can end up paying for on a regular or semi-regular basis, and they can quickly add up.
PROTECTION FROM HIGH MEDICAL COSTS
RECEIVE PREVENTIVE CARE
REDUCE PRESCRIPTION COSTS
As an independent contractor, you get to decide when you work, who you work for, and what projects you work on. And you deserve that same flexibility to apply to your health insurance. Finding the right health plan that meets your needs also meets the needs of your business, especially when simply having insurance can cut costs when you need care.
COMMON QUESTIONS ABOUT INDIVIDUAL HEALTH INSURANCE
WHAT IS INDIVIDUAL HEALTH INSURANCE?
Individual health insurance is health coverage that you purchase on your own instead of obtaining it through an employer-sponsored or government-run plan such as Medicare or Medicaid.
WHO NEEDS INDIVIDUAL HEALTH INSURANCE?
Individual health insurance is for anyone who doesn't have access to an employer-sponsored or government-run plan. And, even if you do have access to one of those, individual plans offer many benefits that often make it the better choice for individuals.
WHAT ARE THE BENEFITS OF HAVING AN INDIVIDUAL HEALTH INSURANCE PLAN?
Having an individual health insurance plan gives you ultimate control over your health coverage. You get to pick the best coverage to fit your individual needs, and your health insurance stays with you regardless of who your employer is.
WHAT IS THE BEST INDIVIDUAL HEALTH INSURANCE FOR SELF EMPLOYED WORKERS?
The best individual health insurance plan is the one that meets your needs. And if you aren’t sure what kind of coverage you need, Woligo’s team of experts is standing by to answer all of your questions. All you have to do is click here:
WHAT IF MY COMPANY OFFERS GROUP HEALTH INSURANCE?
Getting health insurance through an employer may sound like an easy solution, but you should always make sure you have the best health insurance for your individual needs. Health insurance through an employer is tied to your employment, and the group insurance plans may not offer the coverage you need.
WHAT IS THE DIFFERENCE BETWEEN PRIVATE HEALTH INSURANCE AND GROUP INSURANCE?
Private health insurance, or individual health insurance, is health insurance you purchase outside of an employer. If you leave your job, it has no impact on your health insurance. On the other hand, group or employer-sponsored health insurance is health insurance you purchase through your employer. So if you had employer-sponsored health insurance, you would lose it if you left your job, were laid off, or were fired.
WHAT HAPPENS TO MY INDIVIDUAL HEALTH INSURANCE IF I LEAVE MY JOB?
Individual health insurance is health coverage purchased on your own and not through an employer. So, if you leave your job, it has no impact on your individual health insurance plan. You still get to keep it! On the other hand, if you had employer-sponsored health insurance, you would lose it if you left your job.
INDIVIDUAL HEALTH INSURANCE COVERAGE AND PLANS
WHAT DOES HEALTH INSURANCE COVER?
Different types of health insurance offer different coverage, but some options can include:
- Outpatient care
- Trips to the emergency room
- Treatment in the hospital for inpatient care
- Care before and after your baby is born
- Behavioral health treatment
- Prescription drugs
- Physical therapy following an injury, disability, or chronic condition
- Lab tests
- Preventive services
- Pediatric services
HOW DO I KNOW IF MY HEALTH INSURANCE COVERS A CERTAIN PROCEDURE, SURGERY, OR SERVICE?
You can find out if your health insurance covers a specific service by checking your Summary of Benefits and Coverage or calling your insurance provider.
CAN I GET COVERAGE IF I HAVE A PRE-EXISTING CONDITION?
Under current law, for ACA health plans that meet minimum essential coverage (MEC) requirements, health insurance companies can’t refuse to cover you or charge you more just because you have a “pre-existing condition” — that is, a health problem you had before the date that new health coverage starts. These rules went into effect for plan years beginning on or after January 1, 2014.
WHO IS CONSIDERED A DEPENDENT?
Coverage varies by company and policy. Traditionally, dependents for health coverage purposes are spouses and children 26 years and younger. The dependent must be a stepchild, natural child, adoptive child, or under legal guardianship of the adult.
CAN MY SPOUSE BE CLAIMED AS A DEPENDENT?
Spouses are generally considered dependents on your health insurance. However, this is not always the case and varies by company and policy.
WHAT ARE THE DIFFERENT TYPES OF HEALTH INSURANCE?
There are three types of health plans: HMO, EPO, and PPO.
A HMO (Health Maintenance Organization) delivers services exclusively through a network of doctors, nurses, and hospitals. You are required to have a primary care physician ("PCP") who coordinates all of your care, including referrals for specialists.
An EPO (Exclusive Provider Organization) is similar to an HMO — you have access to a specific network of care providers, and you can see specialists without a primary care physician's referral. There are typically no out-of-network benefits or national network with an EPO.
If you like the idea of a plan with a specific network of providers but want a little more flexibility seeing specialists, EPOs can be a great option. If this type of organization is still too binding given your health needs, a PPO is likely to be the best option for you.
A PPO (Preferred Provider Organization) sets up networks with "preferred" providers so you can decide to use any provider in your network at any time. If you need to see several doctors and have specific preferences regarding care, a PPO will be cost-effective and provide you with better options for health care.
HOW DO I FIND THE BEST PLAN FOR ME?
Our brokers scour the ends of the earth, AKA search through all national and regional carriers in the individual market, both on and off the Marketplace. (CA excluded)
Woligo’s licensed agents
are here to help
your questions about
PAYING FOR INDIVIDUAL HEALTH INSURANCE COVERAGE
HOW MUCH DOES INDIVIDUAL HEALTH INSURANCE COST?
The cost of an individual health insurance plan depends on the specific policy and coverage you choose. You can get a quote through Woligo right now.
ARE THERE ANY TAX CREDITS FOR AN INDIVIDUAL HEALTH INSURANCE PLAN?
Yes! If you purchase a health insurance plan through the Marketplace, you may be eligible for the premium tax credit, or refundable tax credit.
WHAT IS THE PREMIUM TAX CREDIT?
The premium tax credit, or PTC, is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance.
WHO IS ELIGIBLE FOR THE PREMIUM TAX CREDIT?
There is a list of eligibility requirements for the premium tax credit such as household income thresholds. For more information, click here.
CAN WOLIGO HELP ME FIGURE OUT IF I AM ELIGIBLE FOR THE PREMIUM TAX CREDIT?
ABSOLUTELY! Our team of experts are here to make your life easier, help save you money and find the best coverage for you and your needs.
HOW DO I MAKE SURE I GET THE BEST RATE?
Thanks to our handy dandy subsidy calculator, we can provide an instant snapshot of available tax subsidy dollars based on your income, age, and zip code.
HOW MUCH DOES HEALTH INSURANCE FOR SELF EMPLOYED WORKERS COST?
Many factors determine how much health insurance will cost, such as your income, your location/state, the number of people in your family, the amount of coverage you want, and your deductible limits. Under the ACA, insurance companies cannot charge you more if you have pre-existing medical conditions.
CAN I AFFORD MY OWN HEALTH INSURANCE PLAN?
Yes – Woligo’s team of experts can help find the best plan for you. Not to mention, it can be far more costly to go without having health insurance.
CAN INDIVIDUAL HEALTH INSURANCE SAVE ME MONEY?
Absolutely! Health insurance is there to help cover all or some of the cost of medical expenses so you can get the treatment you need to stay healthy.
HOW LONG DOES IT TAKE TO GET A QUOTE?
Within minutes we can have a plan comparison that illustrates plan features and costs. Proposals can be emailed, printed, and sent via text directly from our system, depending on your preference.
Ready to find your perfect plan?
ENROLLING IN AN INDIVIDUAL HEALTH INSURANCE PLAN
WHEN CAN I ENROLL IN AN INDIVIDUAL HEALTH INSURANCE?
Open enrollment typically runs from November 1 to December 15 during a calendar year. However, the 2023 open enrollment period has been extended to January 15, 2023.
WHAT IS OPEN ENROLLMENT?
Open enrollment is a period of time that happens once a year when you can sign up for health insurance, adjust your current plan or cancel your plan. If you miss it, you may have to wait until the next open enrollment period to make any changes.
I DIDN'T KNOW ABOUT OPEN ENROLLMENT. NOW, WHAT DO I DO?
Suppose you missed the deadline for open enrollment. In that case, you can only enroll in individual health insurance during a qualifying life event such as getting married, having a new baby, getting divorced, or involuntarily losing your health insurance coverage.
WHEN CAN I ENROLL IN AN INDIVIDUAL INSURANCE PLAN?
Most states historically have had open enrollment periods from November 1 through December 15, although some states have offered longer enrollment periods.
The 2023 Open Enrollment Period (OEP) begins November 1, 2022 and ends January 15, 2023, in most states. During this time anyone can shop their options.
- Enroll BY December 15th, 2022 for a January 1st, 2023 effective date
- Enroll AFTER December 15th, 2022 for a February 1st, 2023 effective date
You can also enroll in an insurance plan during a qualifying life event such as a marriage, divorce, death, or birth.
WHAT IF I AM ABOUT TO TURN 65?
First off, happy birthday! And second, Woligo has a designated Medicare team that will go over the ABC’s of Medicare and explain all of your options. In most cases, an individual becomes eligible for Medicare the first day of their birth month, the year they turn 65. An individual becoming eligible for Medicare has a window to shop their options 3 months prior to their 65th birthday and 3 months after with no penalty.