Self-Employed Health Insurance
Health Insurance For Self-Employed Workers
Working for yourself can offer many advantages, like the freedom to set your own schedule and be your own boss. Along with the perks comes the responsibility of securing your health insurance. If you don’t have access to employer-sponsored health coverage, you can still find a variety of individual and family plans to help prioritize the health and wellness of you and your family.
Examples Of Self-Employment
Self-employed individuals are those who work for themselves rather than for an employer. This diverse group includes but is not limited to:
- Entrepreneurs.
- Single-member LLC owners.
- Small business owners.
- Freelancers & consultants.
- Independent contractors.
- Gig economy workers.
- Online content creators and influencers.
In each of these instances of self-employment, individuals may need to find their own health insurance for themselves and their families.
Coverage Options For The Self-Employed
For those who are self-employed, the Health Insurance Marketplace, established by the Affordable Care Act (ACA), offers a variety of individual and family plans. The Marketplace uses metal levels to categorize its plans: Bronze, Silver, Gold, and Platinum. Bronze plans have the lowest monthly premium, but the highest plan deductible. As the metal levels increase, the monthly premium also gets higher, but the plan deductible decreases.
How Much Is Health Insurance For The Self-Employed?
The cost of individual and family health insurance varies based on the plan metal level, as well as the person's age, household income, and where they live. For those who are eligible, there are subsidies that may help lower the monthly cost for health coverage.
Cost-Sharing Reductions (CSRs) are another type of subsidy to help eligible individuals and families further reduce their out-of-pocket costs for care. CSRs are only available to eligible consumers who enroll in a Silver Plan.
Can Self-Employed Individuals Deduct The Cost For Health Insurance?
Health insurance for freelancers and other self-employed individuals may be tax deductible for those who are eligible. With the exception of catastrophic health coverage, a Premium Tax Credit (PTC) can be applied to all individual and family ACA metal level plans and can help reduce the monthly premium, either reconciled during tax filing or in advance, and paid directly to the health plan insurer.
How To Enroll In Health Insurance For Independent Contractors, Freelancers, And Other Self-Employed Workers
If you're interested in purchasing an ACA Marketplace plan, start by researching individual and family plans to pick the best option for your care needs and budget. You can then sign-up during the annual Open Enrollment Period (OEP), which typically lasts from November 1 to January 15 in most states.
If you experience a qualifying life event outside of Open Enrollment, you may qualify for a Special Enrollment Period (SEP). Getting married, having a child, or losing your insurance coverage are examples of life events that typically qualify you for special enrollment outside of Open Enrollment.
Shop Plans
Explore Anthem individual and family plans for self-employed workers and find coverage that works for your unique healthcare needs and budget.
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Marketplace Health Insurance: How It Works
How Much Does Individual Health Insurance Cost?
Anthem Blue Cross and Blue Shield is the trade name of: In Colorado: Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc. In Connecticut: Anthem Health Plans, Inc. In Indiana: Anthem Insurance Companies, Inc. In Georgia: Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. and AMGP Georgia Managed Care Company, Inc. In Kentucky: Anthem Health Plans of Kentucky, Inc. In Maine: Anthem Health Plans of Maine, Inc. In Missouri (excluding 30 counties in the Kansas City area): RightCHOICE® Managed Care, Inc. (RIT), Healthy Alliance® Life Insurance Company (HALIC), and HMO Missouri, Inc. RIT and certain affiliates administer non-HMO benefits underwritten by HALIC and HMO benefits underwritten by HMO Missouri, Inc. RIT and certain affiliates only provide administrative services for self-funded plans and do not underwrite benefits. In Nevada: Community Care Health Plan of Nevada, Inc. and Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc., dba HMO Nevada. In New Hampshire: Anthem Health Plans of New Hampshire, Inc. HMO plans are administered by Anthem Health Plans of New Hampshire, Inc. and underwritten by either Matthew Thornton Health Plan, Inc. or Anthem Health Plans of New Hampshire, Inc. In 17 southeastern counties of New York: Anthem HealthChoice Assurance, Inc. and Anthem HealthChoice HMO, Inc. In these same counties Anthem Blue Cross and Blue Shield HP is the trade name of Anthem HP, LLC. In Ohio: Community Insurance Company. In Virginia: Anthem Health Plans of Virginia, Inc. trades as Anthem Blue Cross and Blue Shield, and its affiliate HealthKeepers, Inc. trades as Anthem HealthKeepers providing HMO coverage, and their service area is all of Virginia except for the City of Fairfax, the Town of Vienna, and the area east of State Route 123. In Wisconsin: Blue Cross Blue Shield of Wisconsin (BCBSWI) underwrites or administers PPO and indemnity policies and underwrites the out-of-network benefits in POS policies offered by Compcare Health Services Insurance Corporation. Compcare underwrites or administers HMO or POS policies. Independent licensees of the Blue Cross and Blue Shield Association. Anthem is a registered trademark of Anthem Insurance Companies, Inc.
CA: Anthem Blue Cross is the trade name of Blue Cross of California. Independent licensee of the Blue Cross Association. Anthem is a registered trademark of Anthem Insurance Companies, Inc.
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