Lots of work at home moms and others who pursue freelance or contracted income have a good insurance option to fall back on - a spouse's employer may be able to include the whole family in a group policy where premium payments come out of the household income. However, not all of the women taking advantage of business opportunities from their homes have access to this solution, and lots of work at home freelancers and contracted workers must look into how to get their own affordable individual health plans. Getting affordable health care coverage for freelancers can be difficult. Here are some ways that enterprising WAHM businesses get coverage for their health care needs.
Catastrophic or High Deductible Coverage
One of the most common strategies for freelancers is to get low-cost, high deductible medical coverage that will provide for financial responsibility in case of serious illness or injury. This leaves a freelancer with the cost of routine medical care like doctor's office visits and preventative diagnostic services. Every year, the freelancer can contribute money toward their own medical needs using an HSA or health savings account, or just save up a rainy day fund for medical emergencies. This can work well for some freelancers, but for others, the cost of paying routine medical care out of pocket can be excessively high.
Mini Medical Plans
Some health policies known as "mini medical" plans do the opposite of catastrophic policies. They only cover small-time healthcare costs up to a low annual or lifetime benefit. Although these policies can be good for the routine stuff that freelancers will run into during the year, they are almost useless for major medical emergencies, and government groups are looking at outlawing these kinds of policies because of how little coverage they provide.
Some freelancers can find options for specific long term care health insurance from banks or other companies. Signing up for long term care or long term disability coverage helps with some aspects of medical emergency situations, but freelancers will still need some kind of reliable plan for high cost medical procedures.
Many states have some kind of informal group insurance coverage available for those who can't afford conventional policies. One place for freelancers to look is at their state's risk pool, where available. This kind of collective coverage has been helpful in lowering medical costs for the residents of the progressive states that provide it.
Self-Employed or Freelancing Groups
Some private groups dedicated to assisting self-employed freelancers advertise alternative strategies for getting covered to run a business or pursue contracted opportunities. These can be additional avenues toward reasonable health coverage when the conventional options are not meeting the needs of a family or individual.
All of the above can help work at home moms or other freelancers to explore the various possibilities for getting protection against the high cost of today's medical treatments. Without some kind of healthcare plan in place, a freelancer or other individual is extremely vulnerable to medical bankruptcy. Government and nonprofit groups are continuing to assist consumers and help inform the public about their options.