How Do You Get Health Insurance if You’re Self-Employed?

Home Jobs How Do You Get Health Insurance if You’re Self-Employed?

If you're self-employed, you can use the individual Health Insurance Marketplace to enroll in flexible, high-quality health coverage. Learn how it works and what other options you have.

Starting your own business is already a stressful affair, and adding healthcare into the mix does not alleviate any of the pressure. Millennials and healthcare do not usually go in the same sentence together. Thankfully there are coverage options for young entrepreneurs that will fit the lifestyle of you and your business.

When buying any kind of insurance, it is important to take two particular factors into particular consideration:

  • The extent to which the coverage offered suits your particular, individual needs and circumstances; and
  • The price of the premiums you need to pay.

These twin factors are closely interrelated so that the coverage offered is at least as important as the price – and your choice becomes one based on value for money, rather than rock-bottom price.

Self Employed Health Insurance

When choosing health insurance, these twin factors are more important than ever, simply because of the especially wide range of variables in this type of coverage.

And that, in turn, makes the gathering and assessment of self-employed health insurance quotes a critical part of your selection process.

Want free money?

  • Aspiration: Want to get spotted a $100 for free? Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $100 just for opening a new debit card. There’s no catch. This bank account is legit and only takes two minutes to sign up for an account.

Health Insurance If You’re Self-Employed for a Short Time

You have some options if you are self-employed for a short period of time. Your options include:

  • COBRA: COBRA health insurance lets you keep the same employer’s health insurance you had at your old job for up to 18 months. However, you will pay more for it since your employer is not splitting the bill.
  • Short-Term Health Insurance: You can purchase short-term health insurance outside of the usual enrollment period. You can usually find ones that have high deductibles but low monthly premiums. Or you can find one that will replicate your previous coverage but it will likely have high monthly premiums.
  • Industry-Specific Health Insurance: If you work for a freelancers union (for example), they may offer discounted health insurance options.

Health Insurance for Permanent Self Employed Individuals

If you work for yourself full time, here are your options for health insurance.

  • Health Insurance Marketplace: In the United States, the federal government operates the Health Insurance Marketplace, available at, for most states. Here you can shop for health insurance for your small business or for yourself. Keep in mind that some states run their own Marketplaces.
  • Private Health Insurance: You can buy private health insurance by visiting insurance companies’ websites directly, such as Aetna, Blue Cross/Blue Shield, and Cigna Health Insurance.

Self Employed Health Insurance Costs

Want to save on healthcare? According to eHealth, in 2020, the average national monthly health insurance premium for one person on an ACA benchmark plan (i.e., “Silver” plan) is $ $456 per month, or $199 if you qualify for a tax subsidy. If you are purchasing health insurance for your family, the average cost is $1,134 in 2020.

If you qualify for subsidies, what you pay for your coverage will vary depending on your household income and the number of family members covered by the health plan. With a household income of no more than 400% of the federal poverty level ($49,960 for a single person in the contiguous United States, or $ 103,000 for a family of 4), you may qualify for tax subsidies that can significantly reduce what you pay each month for coverage.

Here is what usually affects the price you pay for self-employed health insurance:

Want free money?

  • Robinhood is a free investing app for your phone. I really mean free all around – free to join and they don’t charge any fees to buy or sell the stock. You can get a share of stock like Apple, Ford, or Sprint for free when you join through this link (must complete application). The value of the free share may be anywhere between $2.50 and $200 and fluctuates based on market movements. You’ve got nothing to lose.
  • Levels of coverage: Probably the greatest variations in the self-employed health insurance quotes you receive are a reflection of the choices and level of provision in the key areas covered by the typical health insurance plan.
  • Inpatient treatment: If you need to be admitted to a hospital for treatment, for instance, the cost of your health insurance premiums may vary according to the levels of accommodation and the facilities and nursing services provided.
  • Drugs: Some self-employed health insurance policies may cover the use of drugs and other treatments and may impact the price you pay depends on coverage.

Additional Coverage

Even with private health insurance quotes for more comprehensive forms of coverage, there may still be a wide range of additional treatments included;

Among these, for example, may be covered for certain types of psychiatric illness (distinguishing between those which are curable, which may be included, and those which are not – and therefore excluded);

Some of the more expensive plans may also include complementary and homeopathic treatments and therapies, nursing care at home, access to private ambulances, accommodation for you if your child is admitted to a hospital, and access to 24-hour helplines.

Securing good value for money when it comes to the purchase of medical health insurance typically involves a combination of choosing carefully the coverage you are likely to need and the price you are able to pay for that coverage in terms of the premiums charged.

These are the critical elements at the heart of your private health insurance quotes, which are likely to bear close scrutiny to ensure that you obtain coverage to suit your particular, individual needs and circumstances. I understand the difficulty of starting a business, and health insurance is a priority for you so make sure you pick the right plan for yourself.

Want free money?

Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $150 just for opening a new debit card. There’s no catch. This bank account is legit and only takes two minutes to sign up for an account.

The Best Apps to Save You Real Money

We are on our phone a lot, right? Wouldn't it make sense to save money with the best money saving apps?

AppAt a glancedownload
capital one shoppingBestow
Leave your family $1M. Who doesn’t want to be a millionaire? While we don’t all have trust funds waiting for us, there is still a way to provide protection for your loved ones with up to $1 million in term life insurance. You could do this for as little as $8 a month by getting a free quote from Bestow.
Get a $100 bonus at Aspiration when you open and fund an account with $10 or more. Then use your Aspiration debit card to make at least $1,000 worth of cumulative transactions within 60 days of account opening.
Open a new account in the next 24 hours and you could get up to $200 in free stock.
Truebill reviewTruebill
This free app delivers on its promise to save you money effortlessly. You can use it to lower your bills, cancel unwanted subscriptions and bill negotiations.

About the author

Brian Meiggs
Brian Meiggs
Brian Meiggs is a personal finance expert, and the founder of My Millennial Guide, a personal finance site helping you put more money in your pocket. He helps millennials follow the smart money in order to increase their earning potential and start building wealth for the the future. He regularly writes about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. He has been quoted as a top personal finance blogger in major publications including Yahoo! Finance, NASDAQ, Discover, MSN Money and more.

On a similar note...

Explore More On

Our Favorite Apps

personal capitalThe First and Only Interest Earning Crypto Account
  • Receive up to $250 Bitcoin bonus when you make qualifying deposits over the first 30 days
  • Receive up to 8.6% annually on your crypto
  • Join the most trusted financial services for crypto investors on the market
aspirationThis Company Will Give You $150 for Opening a Free Account
  • Boost your savings and earn up to 1.00% APY interest on your savings
  • Get up to 10% cash back on your purchases
  • Get $150 bonus when you spend your first $1,000 with your new Aspiration Plus Card
personal capitalGet Up $500 in Free Stock for Joining
  • Commission-free stock, ETF and options trades
  • Get a free stock worth up $500 when joining (must complete application)
  • Simple, easy to use investor platform with no account minimums
sofiAll-In-One Investing That's Easy to Use
  • Invest in stocks, ETFs, crypto, or automated investing in all one app
  • No commissions for stocks and ETFs
  • Complimentary access to SoFi Financial Planners
personal capitalThe Smart and Free Way to Manage Your Money
  • Take control of your finances with the perfect union of technology and highly personalized service
  • Get access to free online financial tools, including retirement planner, investment checkup, net worth calculator and more
  • Digital-first wealth management advisor with 24,000 clients in 50 states
blooom401K and IRA Management
  • Start your free 401k and IRA management now
  • Find and reduce hidden fees
  • Improve your diversification
citEnjoy the Benefits of a CIT Bank Money Market Account
  • A CIT Bank Money Market Account helps you get more from your savings with interest rates for maximum growth
  • Earn over 7x the national average with high-interest rates
  • It now pays to open a money market account with CIT Bank
Do NOT follow this link or you will be banned from the site!