Self-Employment Health Insurance Deductible

Being self-employed is a wonderful moment to experience. You are capable of making your own schedule and you get to choose what you want to work on. However, with these freedoms available you are prone to potential problems. Most people get their insurance through their work, but since you are self-employed it’s up to you to find the right healthcare provider. Understandably, not everyone knows what to look for and the price tag on many of these companies are shocking.

Luckily, there are health insurance companies with the goal of making your life easier and more affordable. Insurance Line One starts their services off at a low price of 150 dollars a month. Considering at least 50 percent of the uninsured population makes less than 200 percent of the federal poverty level—which is currently around 24,000 dollars—this opens up new opportunities for many of the uninsured. Additionally, being self-employed enables you to live a better life.

Self-Employment Benefits

As someone who is self-employed, you are capable of taking in all the revenue, deciding when you want to work and what you want to work on. There are all kinds of self-employed jobs out there; from a graphic designer to a writer to a nanny. When you are self-employed you have no employees below you or an employer to tell you what to do, unless it’s a contract or one-time gig. This is the main difference between a small business and self-employment.

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This is vital to comprehend because you don’t want to register as a small business when being self-employed allows you more freedom and benefits. One of the main advantages of being self-employed is the premium tax credits you can qualify for. Many health insurance companies offer premium tax credits to help you out with your health insurance. Considering at least 45 percent of the uninsured cite the high costs as why they choose to remain unprotected, this will be incredibly useful for them.

Additionally, since you are self-employed you have the advantage of writing off most of your medical expenses. Through self-employment health insurance, you can write your premiums off as tax deductibles. This includes your partner, as well. Furthermore, there are other medical services capable of being covered under health insurance; such as acupuncture, breast pumps and supplies, medication, crutches, lab fees, and many more. Granted, there are a few slights being self-employed as well.

Drawbacks of Being Self-Employed

Many of the self-employed have to deal with all of the business themselves, including marketing, distributing, content, development, etc,. This can start to build up stress in the body, which can cause negative reactions. Too much stress can heighten the consequences o having heart disease, or even begin the start of a heart problem. One of the biggest hazards of stress-related heart disease is a heart attack.

Despite heart disease and heart attacks being the number one killer in the nation and in many states, the risk of succumbing has gone down over the years. With our continued evolution in the medical field, it shouldn’t be a surprise this is occurring. However, financial survival is a different story. Remember, most of the uninsured make less than 24,000 dollars. Heart attack recuperation can cost anywhere from 30,000 dollars to 200,000 dollars. Although, were you on a health insurance plan this bill would be reduced anywhere from 60 to 90 percent.

Do I Need to Pay Off My Deductible to See Discounts?

When you subscribe to a health insurance company’s package you have to pay a monthly premium, which goes toward your care when you see a medical professional. Healthcare providers also have an annual deductible you need to fulfill before you start seeing major benefits. Although, there are certain assistance services you will be able to acquire without your deductible being finished.

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You can still receive preventative care treatments, such as immunizations and birth control. You’ll also be able to pick-up your medication without having to drop hundreds of dollars on a medication you need. You might be part of the estimated 18 percent of the uninsured who can’t even acquire their medicine because of these costs. Additionally, the Affordable Care Act has also placed barriers to ensure health insurance companies don’t bleed you dry.

How Has the Affordable Care Act Helped Me?

Since the passing of the Affordable Care Act in 2010, millions of people were able to get the coverage they deserve. One of the more notable rules in place is the out-of-pocket spending cap families and individuals now have. Before, health insurance companies would only spend a couple thousand on a patient, leaving the subscribers with the rest of the bill. This caused thousands of people to file for bankruptcy or to work more than they can handle.

Now, individuals will never spend more than 7,350 dollars in out-of-pocket spending, while families have a cap of 14,700 dollars. This allows the patient to live worry-free knowing someone has their back during this time of need. However, to implement all of these helpful policies, many health insurance companies raised their prices. An estimated 56 to 63 percent rise in premiums was seen over the four years it was enacted. Nonetheless, there are some providers who still believe in helping you first.

A Healthcare Provider Suitable for You

Going to the doctor for a routine check-up can cost you anywhere from 100 to 250 dollars without health insurance. However, with health insurance by your side, you can pay as little as 15 dollars to see a doctor. Insurance Line One wants to make this dream real for those without health insurance. To show our passion for this belief we have started our services at a low price of 150 dollars.

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Furthermore, we have placed our list of services in an easily navigable format to increase your chances of understanding these services to your fullest potential. Comprehending everything health insurance packages have can cause even the most level-headed to flail their arms in anger. This is why we also provide year-round open enrollment to create as many possibilities for people to acquire this assistance.

Sources:

https://www.kff.org/uninsured/fact-sheet/key-facts-about-the-uninsured-population/

https://www.healthedeals.com/blog/learn/are-health-insurance-premiums-deductible/

https://health.costhelper.com/heart-surgery.html

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