One of the biggest challenges of freelancing is finding affordable health insurance that offers the coverage you desire. There are many options out there, and all of them seem to have different benefits and drawbacks. Most are very expensive.
Some freelancers choose to go on an ’emergency only’ health insurance plan, where you would have high deductibles and relatively minimal coverage based on the idea that you would only use that coverage in case of extraordinary hospital bills. Of course, because of the minimal coverage, this option isn’t right for a lot of people.
Another common method of getting health coverage is to go through a group like NASE or a local chamber of commerce. In this way you can usually get into a plan and receive benefits closer to those that might be provided by an employer. The group rates also apply, so you can probably find something reasonably affordable too. The downside to this option is that you are putting a great deal of faith in the organization or group that you go through, and will need to do your research before selecting an organization.
Yet another choice is to open a Health Savings Account, or HSA, which would provide you with a way to save tax-free dollars towards your future medical expenses. This option has its own quirks, and in some cases doesn’t even come with insurance (though I’d recommend at least getting an emergency plan to go with it).
How do you get your health insurance?
Which one of these methods do you use for your health insurance? Are you satisfied with what is provided? Is it reasonably affordable? Any advice for newer freelancers?
Let us know your thoughts in the comments.