Changes in Health Insurance Options for the Self-Employed

Changes in Health Insurance Options for the Self-Employed

When you’re self-employed, one of your major concerns can be health insurance and how to obtain it on your own. It can be an expensive and confusing process without someone knowledgeable in the field by your side. Schedule an appointment with Michael Melle now and make sure that you have the proper health insurance coverage to suit your needs. Learn how some of the changes in health insurance options might affect you below.

photo of person filling out medical forms

Locked-In Rates

One of the changes that health insurance companies frequently make involves utilizing their ability to adjust your monthly insurance rate. It can be a process that is taken advantage of to the detriment of the customer. Ensuring that you partner with a company that can offer you a locked-in monthly rate will be to your benefit in the long-run.

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Keep an Eye on HSAs

HSAs (Health Savings Accounts) offer tax benefits for those that choose to utilize them for their health insurance purposes. One of the benefits for self-employed individuals is that you are given a lower monthly premium. However, they generally come with a higher deductible, so it is important to keep an eye on the market and those rates.

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The Vast Market

The fact of the matter is that the health insurance industry is vast and complicated. It is extremely important to keep tabs on the fluctuations within your own provider’s company and those in the market, generally. You’re not obligated to a single organization when you’re self-employed, so explore your options.

photo of woman sorting through her taxes

Deductions

Tax season can be complicated as it is — but, it is crucial to pay attention to requirements for the self-employed when it comes time to file for the year. Deducting your health insurance premiums for the year can make all the difference when it comes to the amount of your return and the cleanliness of your books. Rates and requirements change by the year, so it is important to keep up to date.

Make sure that you are doing everything in your power to cover your healthcare services when you partner with Michael Melle Insurance Group. Contact us today and make sure that you have the best protection out there.

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