Self-Employment Health Insurance Options

Health insurance is here to help you during a time of terrible trauma. The costs for simple medical procedures are astronomically high and important treatments are only more expensive. An estimated 63 percent of people who are uninsured say they worry about paying medical costs for normal services. This is understandable when you realize around 50 percent of the uninsured make less than 200 percent of the federal poverty level, which is currently around 24,000 dollars.

Many of the uninsured cite the high costs of health insurance as to why they choose to remain uninsured. Luckily, Insurance Line One starts their services at a low monthly premium around 150 dollars. This allows even those making far less than the federal poverty level to acquire this needed service. However, you might be wondering where you fall under since you don’t work within a classic company.

How Do I Know I Qualify for Self-Employment Health Insurance?

Many people obtain their health insurance through their employer or the marketplace. When you are self-employed you will most likely go through the marketplace, but you first need to establish if you are self-employed. People who are self-employed can usually follow this one tip; if you are the only employee, then you are self-employed. If there’s even one other employee or employer there, then you qualify for most healthcare providers as a small business.

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When you are recognized as a small business, you lose out on some of the savings people who self-employed can posses. Many of the self-employed can qualify for premium tax credits. This makes it easier to obtain health insurance, as well as saves you money in the long-run. You’re already incredibly busy running a business by yourself, you don’t need to add on medical debt worries. Despite all of this, there are some myths to be aware of when it comes to what health insurance does.

Myths of Health Insurance

Health insurance is capable of covering anywhere from 60 to 90 percent of your total medical bill. However, it does not mean it will cover everything medical related when you do go to the hospital. This is why it’s important to read the packet they send you once you obtain this service. In it, will have everything lined out for you; what services you can use, how much it’ll cost and even what you can’t do.

Reading through this packet will help you determine what route you want to take for medical care. This is also why you should research the hospital in your area to see where is the most reasonably priced hospitals. Additionally, you need to remain vigilant when it comes to paying any leftover medical charges.

Hospitals and other medical facilities will send your bill to collections. There is no difference between medical collections and regular collections, either. Meaning, your credit score will be severely affected were you to ignore these charges. The worst part is, you won’t be able to heal your credit score for a couple years. Your score doesn’t go back to normal as you soon as you pay it off; it takes years to bring it back to its glorious stature. Nonetheless, going uninsured is still much riskier than actually having this service.

Is It Better to Remain Uninsured?

Many people think they are better off going uninsured than paying for a service they might never need. This idea is based on the belief they can live a healthy life and not have anything bad happen to them. However, we don’t live in a world where accidents don’t happen at random and people won’t neglect their sickness.

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As a matter of fact, 23 percent of the uninsured will push off a visit to the doctor because of the costs. This can cause the common cold to manifest into something more sinister and contagious. Another 20 percent will push off a needed medical service because they couldn’t afford it, either. Increasing the likelihood of you developing the same sickness your coworker had. Not only that, but this can cause physical ailments to worsen over time.

Despite all of this, not everyone who is uninsured has a usual source of care. Even if they wanted to receive treatment for their problems, they don’t know where to go. An estimated 45 percent of people don’t have a normal place to get medical care. This can be attributed to the fact they don’t want to spend thousands of dollars on medical service. However, were you to be caught going uninsured you’ll end up spending the same amount as a year’s worth of health insurance, but without any of the benefits.

Choosing the Best Healthcare Provider

Going through a traumatic experience, like surviving a heart attack, can be heavy on the heart. It can take you awhile to be one hundred percent again. It’s only worsened when you realize you have to pay a gargantuan bill for something you had no control over. Most health insurance companies will work with you during this trying time, but not all will treat you fairly. There are many healthcare providers who will want to bleed your wallet dry.

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Fortunately, there are health insurance companies who want to change this practice. Insurance Line One doesn’t just provide low-rated services around 150 dollars a month. We’ve also carefully organized our list of services into a simplified format to ensure you can read everything laid out without being confused. After all, this is going to be determining how much you pay every month and who you are allowed to see, it’s vital you know what you are choosing.

Rushing into a decision can end up costing you hundreds, maybe even thousands more than necessary. Not everyone has the luxury to waste money, which is why its crucial you completely comprehend what is being said. Through our year-round open enrollment policy you will be able to take as much time as you need making a decision. No one should be denied coverage because they missed an imaginary deadline.

Sources:

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

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