What Is the Most Affordable Health Insurance for Self-Employed People?

When you're self-employed, health insurance can be one of your biggest monthly expenses. Without an employer helping with the premium, finding affordable coverage often comes down to knowing where to look.

For many self-employed individuals, the ACA Marketplace is the first place to check. But it isn't the only option.

Depending on your income, health history, age, location, and coverage needs, private health insurance can also be a great option to compare.

ACA or Private Health Insurance?

If you qualify for an ACA subsidy, a Marketplace plan may offer very affordable coverage.

But if you don't qualify for much financial assistance, the numbers can look very different. You could be paying the full Marketplace premium every month, even if you rarely use your insurance.

That's where private health insurance is worth looking at.

Some private plans are designed for individuals and families who want more affordable coverage outside of the Marketplace. Depending on your situation, you may be able to find a plan with a monthly premium that makes more sense for your budget.

What If You Rarely Use Healthcare?

If you're generally healthy and don't go to the doctor very often, you may not want to spend a large amount every month on a comprehensive plan with benefits you rarely use.

Instead, you may prefer a plan that keeps the monthly premium lower while still providing protection from larger medical expenses.

Private health insurance can be particularly worth comparing in this situation.

What If You Have a Family?

The difference can become even more significant when you're covering a spouse and children.

A family Marketplace plan can become expensive, especially if you don't qualify for substantial subsidies. Depending on the members of your household and their health history, private options may provide another route worth considering.

So Which Option Is Right for You?

There isn't one health insurance plan that is cheapest for everyone.

The best place to start is by looking at both ACA and private options that you actually qualify for, then comparing the premiums, deductibles, networks, and benefits.

That's where I come in.

At Kato Healthcare Options, I can look at your situation, compare the available options, and narrow it down so you aren't trying to figure out dozens of plans on your own.

If you're self-employed and feel like you're paying too much for health insurance, let's take a look at what's available.