Money Crashers: 6 Health Insurance Options If You’re Self-Employed

It's now been over 15 years since I first left my job to become a freelancer. It was an uncharacteristically daring move on my part, since freelancing meant an uncertain income and, more seriously still, no benefits — particularly health insurance. I think the only reason I had the nerve to do it when I did was that Brian and I had just become engaged, so I knew I'd soon be able to get health insurance through his job. I just had to sign up for pricey but short-lived COBRA coverage to see myself through the few months before the wedding.

Today, freelancers have a much wider array of options. Instead of having to pay through the nose for COBRA, freelancers can buy a policy on their state healthcare exchange. This is significantly cheaper even at full price, and cheaper still for those with low enough income to qualify for an ACA subsidy.

However, with Obamacare perpetually under siege, first from Congress and now from the courts, it's unclear how much longer freelancers will have this option. And even if it remains available, there's no guarantee it's the best or cheapest way to get coverage.

So if you're a freelancer, it makes sense to learn about all your options. In my latest Money Crashers article, I cover all the different ways freelancers have of finding health care coverage, including Medicaid (for low-income freelancers), Medicare (for those over 65), coverage on a family member's plan, and coverage through organizations. I also discuss the possibility of getting a part-time job that provides benefits.

6 Health Insurance Options If You’re Self-Employed