The dream of self-employment is a familiar one for many of us-one that is likely to arise whenever we find ourselves particularly frustrated by an unfair employer, a pointless company meeting, or a rigid and inflexible schedule. The thought of firing our boss and seizing control of our own future-and of running a business where we get to call the shots-has obvious allure, and, for more and more forward-thinking Americans, it's an allure that prompts action. For those thinking seriously about making the jump to self-employment, however, there are plenty of worries and unanswered questions. Toward the top of the list, for many, is the issue of health insurance.
Certainly, health insurance is something we all need, whether employed or not, and, for those who have never gotten health insurance from anyone but an employer, it poses a truly daunting obstacle. Getting health insurance is not an insurmountable task, though, even for the self-employed. You just need to keep some basic pointers in mind.
For starters, know all about COBRA. When you leave your job to pursue self-employment, this is absolutely vital. You can file for COBRA health coverage for up to 18 months after leaving your job; this will provide you with some much-needed time to weigh other options and get your new business set up. Consult with your Human Resources representative at your previous place of employment to fill out the necessary paperwork-but remember that you must do so within 60 days of your employment ending.
Second, check out some of the profession-specific organizations out there, many of which offer group healthcare coverage. There are nationwide, professional associations for realtors, for instance, and also for freelance writers; joining one of these groups is often a great way to secure access to group health insurance rates. This is one of the easiest ways to obtain coverage, assuming there is a professional group that corresponds with your profession.
A final option is to reach out to the National Association of the Self-Employed. If you are a member in good standing with this group-if you are up-to-date on your dues and so forth-then you can apply for health coverage through the association. Again, this is a good way to get group rates even if you do not have any other employees. Keeping these ideas in mind will help you weigh your options and make good, informed decisions about obtaining affordable health insurance even as you venture into self-employment.
Certainly, health insurance is something we all need, whether employed or not, and, for those who have never gotten health insurance from anyone but an employer, it poses a truly daunting obstacle. Getting health insurance is not an insurmountable task, though, even for the self-employed. You just need to keep some basic pointers in mind.
For starters, know all about COBRA. When you leave your job to pursue self-employment, this is absolutely vital. You can file for COBRA health coverage for up to 18 months after leaving your job; this will provide you with some much-needed time to weigh other options and get your new business set up. Consult with your Human Resources representative at your previous place of employment to fill out the necessary paperwork-but remember that you must do so within 60 days of your employment ending.
Second, check out some of the profession-specific organizations out there, many of which offer group healthcare coverage. There are nationwide, professional associations for realtors, for instance, and also for freelance writers; joining one of these groups is often a great way to secure access to group health insurance rates. This is one of the easiest ways to obtain coverage, assuming there is a professional group that corresponds with your profession.
A final option is to reach out to the National Association of the Self-Employed. If you are a member in good standing with this group-if you are up-to-date on your dues and so forth-then you can apply for health coverage through the association. Again, this is a good way to get group rates even if you do not have any other employees. Keeping these ideas in mind will help you weigh your options and make good, informed decisions about obtaining affordable health insurance even as you venture into self-employment.
