Working for yourself can offer many advantages, like the freedom to set your own schedule and be your own boss. Along with the perks comes the responsibility of securing your health insurance. If you don’t have access to employer-sponsored health coverage, you can still find a variety of individual and family plans to help prioritize the health and wellness of you and your family.
Self-employed individuals are those who work for themselves rather than for an employer. This diverse group includes but is not limited to:
In each of these instances of self-employment, individuals may need to find their own health insurance for themselves and their families.
For those who are self-employed, the Health Insurance Marketplace, established by the Affordable Care Act (ACA), offers a variety of individual and family plans. The Marketplace uses metal levels to categorize its plans: Bronze, Silver, Gold, and Platinum. Bronze plans have the lowest monthly premium, but the highest plan deductible. As the metal levels increase, the monthly premium also gets higher, but the plan deductible decreases.
The cost of individual and family health insurance varies based on the plan metal level, as well as the person's age, household income, and where they live. For those who are eligible, there are subsidies that may help lower the monthly cost for health coverage.
Cost-Sharing Reductions (CSRs) are another type of subsidy to help eligible individuals and families further reduce their out-of-pocket costs for care. CSRs are only available to eligible consumers who enroll in a Silver Plan.
Health insurance for freelancers and other self-employed individuals may be tax deductible for those who are eligible. With the exception of catastrophic health coverage, a Premium Tax Credit (PTC) can be applied to all individual and family ACA metal level plans and can help reduce the monthly premium, either reconciled during tax filing or in advance, and paid directly to the health plan insurer.
If you're interested in purchasing an ACA Marketplace plan, start by researching individual and family plans to pick the best option for your care needs and budget. You can then sign-up during the annual Open Enrollment Period (OEP), which typically lasts from November 1 to January 15 in most states.
If you experience a qualifying life event outside of Open Enrollment, you may qualify for a Special Enrollment Period (SEP). Getting married, having a child, or losing your insurance coverage are examples of life events that typically qualify you for special enrollment outside of Open Enrollment.
Explore Anthem individual and family plans for self-employed workers and find coverage that works for your unique healthcare needs and budget.
When life changes, your health insurance may need to change as well. Open enrollment is the ideal time to make changes to your health insurance plan.
Understand how the Health Insurance Marketplace works, who qualifies, and when to enroll. Learn more at Anthem.
The cost of health insurance can be a big part of your family budget. Find out how to balance the cost against your coverage and benefits.
1.8.1.6 | Open Enrollment 1.8.1.12 | Marketplace Health Insurance 1.8.1.5 | Costs Legal DisclosureNot connected with or endorsed by the U.S. Government or the federal Medicare program.
The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent or insurance company.
This policy has exclusions, limitations, and terms under which the policy may be continued in force or discontinued. For costs and complete details of the coverage, please contact your agent or the health plan.
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