Health Insurance for Self Employed: Beyond Marketplace Insurance!

What to do about health insurance if you're self employed...What is the best health insurance plan for an entrepreneur? Call us at iHealthBrokers today at 888-410-0344. Our services are 100% Free!

★☆★ABOUT THIS VIDEO★☆★

One of the first options is marketplace insurance. Under the affordable care act (sometimes referred to as Obamacare) all plans on the marketplace cannot discriminate against pre-existing conditions. Plans must offer services deemed essential benefits and many of these are offered at no charge.

Many people are eligible for tax credits when enrolling in a plan through the marketplace. You may be able to save thousands of dollars per year with these tax credits. You’re going to want to try to lower your MAGI as much as possible to ensure the best savings. Try working with an accountant to ensure that you’re maximizing your deductions.

There are many options on the marketplace. You can choose from PPOs (more flexibility, higher costs), HMOs (less flexibility, lower cost) or EPOs which are somewhere in between. There are four metal tier categories:
Bronze
Silver
Gold
Platinum
You may also be able to select a HDHP with HSA for further savings, but again, work with a broker to make sure your plan goes beyond the superficial appeal.

The truth of the matter is, even with premium tax credits, marketplace insurance can be a little more than people want to spend. This is especially true if you only use your insurance for basic needs. If this is the case, you may want to look into a short term medical insurance plan (sometimes referred to as catastrophic coverage plans). Short term plans offer many of the same benefits as marketplace plans.

Short term medical insurance plans also usually offer nationwide PPO coverage. Additionally, short term medical plans are much less expensive than marketplace plans. A young healthy person can enroll in a plan for as little as $100! And you can customize them to meet your needs. But remember, STM:

Are only available for a period of up to 36 months, at which point you’ll have to enroll again
Are not available in all states
Do not cover pregnancy
Do not cover pre-existing conditions in the first year of coverage
Are not ideal for families with young children

Still, for a reasonably healthy entrepreneur, they are an excellent option for health coverage at a lower cost. Should you experience a medical emergency of some type, you will be covered and the out of pocket maximums will limit your responsibility for large medical bills.

Other than basic health insurance, people certainly have other health needs that may require insurance. Many of our clients and viewers are especially concerned about dental insurance. If you are purchasing a plan through the marketplace, you can certainly choose a plan that offers dental and vision coverage or you may be able to add it on. That may not be your best option however. Many find that the add on options on the marketplace can be rather limited. For the most bang for your buck, you may want to look into private insurance.

For example, dental plans usually range from $15-$50 per month. Should you choose a private plan, you’ll have many more options available to you including far more PPO options.

👇SUBSCRIBE TO iHealthBroker's CHANNEL NOW👇

★☆★CHECK OUT OUR OTHER VIDEOS★☆★

How to Save Money on Health Insurance

Calculate MAGI

Marketplace Insurance

HSA & HDHP

Health Insurance 101

Dental Insurance

===================================

Special Enrollment Period Qualifying Life Events

★☆★CHECK US OUT ★☆★

PHONE NUMBER: [phone]

===================================

Give us a call or leave a comment below and we'll do our best to help! Make sure to "Like" and "Subscribe" today!

[SuperEgo]

My income should have no relevance to the cost of my health insurance. My premiums exceed $2000/month and I’m completely healthy. Those commercials of people saying they have a plan for $53/month infuriates me!! This is back door redistribution of wealth and simply evil.

[tictac]

Damn this is too much lmao you need an accountant and a broker just to see a doctor wtf kind of bs is this no wonder there r so many homeless ppl in merica

[JS-jvrg]

The government should step in and regulate these fees, have universal health care for everyone at a much lower fee to all regardless of income.

[christineg]

I what to cancel our marketplace insurance and go without for a while, this guessing your income, has been causing me so much anxiety and sleepless nights. This Marketplace insurance with advanced tax premiums is complicated and can leave you having to pay a lot of $$$ back if you happen to do better than expected, I can't live this way !!

[loscoglass]

This is insane. I have no issues, i do not smoke cigs, I exercise and eat healthy, yet I'd still have to pay over $300/mo with high deductibles as a very small business for peace of mind if I HAPPEN to break an ankle hiking or have some accident/sickness I'd have to see a doctor for.

[henrythomas]

Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.

[AM-]

im paying the eqivalent of a decent house mortgage for a BCBS health plan with an insane high deductable and copays, 50% coinsurance, thanks Obamacare! Since 2008 the premiums jump every year and we get less and less

[hellopumpkin]

Thank you for these videos. Is there a limit on how many short-term plans I can sign up for consecutively?

[mrnjo]

Hello darling, my name is Joe Miranda . I have been watching a couple of videos of you and every facial expression shows me that you are the twin sister of Johnny Depp's Attorney in the famous case of defamatory implications ! You look exactly the same as Camille Vasquez A very pretty and humble Lady like you ! God bless you for what your informing here in your subscription segments ! Faith, Hope, and Love is the best in a Lady as you present your videos ! Thank you, be safe always, Amen .

[jaydin]

Great spokesperson :)
Thanks for the info

[joshuamacgregor]

what if you don't have income? and you just do odd jobs for cash what are my options?

[nelsonho]

Thank you much for all the information!

[princeabdul]

I'm an independent contractor and My company doesn't provide insurance, I'm not a us citizen, I'm an international student converted to h1b visa, so looking for health care plans for insurance

[eric.aaron.castro]

How do you feel about Oscar as a plan for the self-employed ?

[AM-]

FYI I have "Silver" and its 50/50 so Im not sure what your posting is correct

[caripisano]

what about hospitals that dont accept marketplace insurance ? My main care for a rare disease does not take it

[CRRidR]

Self employed question: do I pay for my premiums out of my business checking account? Thanks

[melvychanta]

tell me in wchich states obamacre offer ppo

[loscoglass]

for someone whos income is below $15, 000, it is asinine to expect me to pay over $300 for Government health care. That I will likely never need as a healthy individual.

[coachv]

"Work with an accountant, work with a broker...." what a mess and a scam is the health insurance in United States of America.