Ohio self-employed health insurance plans are very affordable and offered by all of the top-rated companies. Starting or maintaining your own business as an independent contractor, freelancer, or private consultant doesn't mean you have to take the risk of being uninsured or paying high rates. You may be eligible for a federal tax subsidy for many low-cost catastrophic, comprehensive or HSA plans
If you are small business owner with no employees or hundreds of employees, we'll find the perfect fit for you. You also may be able to tax-deduct your premiums, depending on how you file your taxes and what type of expenses you incurred. You may also be able to deduct the cost of any dependent in your household.
NOTE: You can also choose to enroll in "on" or "off" Marketplace plans. Differences include federal subsidy eligibility, size of provider networks, and minor differences in benefits.
We Do The Research And You Save!
Ohio features some of the lowest healthcare costs in the US. Whether you are single, married with children, uninsured or on Cobra, we'll research and show you the top reasonably-priced options. We'll also inform you which recent government reform changes will benefit small businesses. Premium tax credits are instantly applied, so your cost of coverage instantly reduces.
Our website makes it easy for you to easily compare and also apply for coverage online or face-to-face. We do as much of the work as possible so you can concentrate on running your business smoothly without interruption. Since you are not required to hire any employees, your personal household income determines the amount of federal subsidy you receive.
We also consider reputable Association plans, such as the Chamber Of Commerce, church and alumni organizations along with different union-affiliated groups, assuming you qualify. A "small business" policy may be offered by selected carriers if you have at least one employee. Your spouse would qualify.
Don't Forget About HSAs
One of the most popular plans for self employed individuals and families is a Health Savings Account (HSA). HSAs are designed to help save for future qualified medical and retiree expenses on a tax-free basis. Plans are available from most Ohio insurers, such as Anthem Blue Cross, Aetna, Medical Mutual, UnitedHealthcare, and HealthSpan. Celtic and Assurant have exited the individual and group market.
Premiums are usually quite lower than COBRA rates. Typically, Anthem, Medical Mutual and UnitedHealthcare will offer the most competitive rates. But even those three carriers will have very different prices, depending on your zip code.
To open an HSA, you must have a qualified “High Deductible Health Plan” (HDHP), which is a type of medical plan that has a higher deductible than a typical insurance policy. The HSA itself is a savings account that allows you to contribute funds on a tax-preferred basis. Qualified deductible expenses can also include dental and vision costs. Any funds not used during the year, can be rolled over to the following year without a penalty. Or, you can withdraw the money, since it is your own. Additional details are found on this link.
Ways To Lower Your Premium
Reducing the cost can be accomplished in many ways. Increasing your hospital deductible can reduce premiums by 30% or more. With many policies, office visits and prescriptions are not subject to a deductible, and therefore, would not be affected. If you rarely use this coverage, placing a deductible on these benefits could substantially reduce your premium. Of course, preventive coverage is always provided at no cost to you. This allows you to utilize many provisions of your policy without having to pay for it.
It Pays To Shop
Comparing several policies is always advisable. Every company bases their self-employed rates on various factors, including smoking status, health, and the county/ zip code where you live. You will be able to obtain more affordable medical coverage by considering multiple plans.
Whether you often travel outside of the state will play a role in which plan might be best for you.Perhaps just as important is your understanding of business law and regulations. Although not directly related to your medical benefits, employment and labor issues may impact the type of policy you choose, and handling legal issues should never be taken lightly.
For example, certain carriers have vast networks inside the state, but limited coverage in other states. Will that be an issue for you? Also, it may be advisable to purchase a plan "outside" of the Marketplace, if your family income is above $96,000. NOTE: Households with more dependents can qualify for a subsidy with higher incomes.
US Small Business Administration
The SBA was founded in 1953, and has helped Buckeye State residents secure loans, obtain free counseling, and start thriving businesses. Private and public organizations have been instrumental in assisting small local enterprises grow into much bigger companies. Although securing loans is a major function of the SBA, many additional services are provided.
For example, research grants and providing venture capital may be available, depending on the type of product you are building, servicing, or manufacturing. If you are just starting a business, assistance with licensing, acquisition of equipment, and finding, hiring, and retaining employees can be furnished. Women-owned and HUBZone-related companies may receive extra help.
Self-employed health insurance can be molded and shaped to meet specific needs. Whether you run a business with no or very few employees, you're an independent contractor, or you work directly from your home, recent legislation has created several opportunities that allow you to enroll in an affordable plan.
Each situation is different, and our job is to research, evaluate and recommend the most suitable plan. Please feel free to provide your zip code at the top of this page to view your options. And of course, you can call us anytime at (888) 513 6446. We're located here in Ohio, just like you!