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6 Reasons Why You Need Health Insurance When You’re Self-Employed

6 Reasons Why You Need Health Insurance When You’re Self-Employed


6 Reasons Why You Need Health Insurance When You’re Self-EmployedOne of the reasons people don’t invest in health insurance is that it feels like too much of an expense, especially when you’re self-employed and pay everything yourself. Having health insurance also feels like another responsibility to keep track of, on top of the time you’ll spend looking for top-quality self-employed health insurance. However, health insurance is always a top priority for everyone, primarily self-employed people. Insurance offers you access to services and cares you need to stay healthy and working, such as preventive screenings and annual check-ups, but that’s only the tip of the iceberg.


Six Reasons Why You Need Self-Employed Health Insurance

1.Get Access to Financial Aid and Tax Deductions

If you’re undecided about health insurance, mainly because of the cost, then you might be surprised to find out that it’s surprisingly affordable. Self-employed people can potentially qualify for two forms of financial assistance with health insurance. The first is the Advance Premium Tax Credit (APTC), which helps cover the monthly costs of insurance. The other option is the Cost Share Reduction (CSR) reduction. This benefit reduces the cost of point-of-service. For example, this would reduce the copay when visiting a doctor.


Depending on which kind of coverage you qualify for, you could be eligible to reduce up to 100% of the health insurance premiums from your taxes. These tax deductions can be extended to your dependents and spouse as well as yourself. The deductions apply to local, state, and federal income taxes, but not to self-employment taxes.


2, Get Essential Health Benefits

Health insurance plans offered under the Affordable Care Act offer coverage for ten essential health benefits, including screenings and vaccinations. Understanding the health services, you receive with your insurance will help you protect your health and wellbeing as a self-employed person.


Protecting your health is one of the most obvious reasons you need health insurance. A good livelihood creates good health, which has a positive impact on your work. Your health could be impaired if you don’t get enough time off for yourself, so maintaining a healthy work-life balance is essential for self-employed individuals.


Health insurance can help you stay fit and healthy by covering the costs of annual check-ups and potential preventative care measures. You get access to affordable, high-quality healthcare with the right insurance plan. Even better, the prices of the program don’t fall to you, given that you get the money back at tax time.


3. Protect Your Livelihood

If you run your own business, then it’s safe to assume that you’ve put plenty of time and effort into your “baby.” Considering that your business is the sole source of your income, you wouldn’t want any unexpected medical expenses or health issues to take all that away from you. When you consider the increasing costs of hospitalization, there’s the potential you could become bankrupt due to significant health problems if you don’t have a health insurance policy to protect you. Not only will you lose your ability to work and make more money, but you’ll quickly lose your savings in medical bills.


Health insurance is one of the best ways to protect yourself and your business. It would be best if you had health insurance because it covers healthcare costs. Preventative screenings can catch problems before they develop, saving you even more time and money in the future.


4 Free Wellness Programs

Another good reason to get self-employed health insurance is access to wellness programs. Some health insurance companies offer free or cheap access to wellness programs. These programs help you lose weight, eat healthily, quit smoking, stress reduction, and more. Adopting healthier habits and improving your overall wellness helps boost your mood, focus, and energy levels. You’ll sleep better at night and be more productive in the day.


5 Digital Tools and Telemedicine

Being self-employed means living in a constantly-shifting world. Your healthcare access should be able to keep up with the fast-paced nature of your life. Self-employed health insurance is built for self-employed people with access to things such as telemedicine and digital apps. You’ll have access to your healthcare needs from your computer, smartphone, or tablet.


You can use telemedicine services to find non-emergency treatment with costs covered by the insurance provider. Healthcare providers can also send prescriptions to your chosen pharmacy when available. Telemedicine and digital health tools are adaptable and work around your lifestyle, no matter where it takes you.


6 Direct Access to Doctors and Hospitals

You can only perform your best when you feel your best. Unfortunately, an emergency can happen at any moment. Having health insurance puts you in direct contact with the best people at the best price, no matter what happens to you. PPO health insurance networks, in particular, protect your health no matter where you are or where your job takes you.


Final Thoughts

There are many reasons that self-employed people need health insurance. The reasons are generally the same as anyone else, but it’s especially essential for self-employed people who have no chance of getting healthcare coverage from an employer. As an employer and employee of yourself, you owe it to yourself to invest in self-employed healthcare.

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