As a consultant, you have made a career out of forming relationships. You may have a history of working for large employers where HR made most of the health insurance decisions for you. As you explore becoming a consultant, health insurance is a topic you may have just now had to address.
You may be purchasing individual health insurance for yourself and your spouse. It’s essential to consider your spouse’s healthcare needs. It would help if you first research all your physicians and mediations, as Individual health insurance will not be as comprehensive as a large employer group health plan.
You could qualify for premium assistance through the Affordable Care Act (ACA). Premium assistance is determined by household income. You may only pay 9% of your taxable income for a policy if you qualify.
As you review plan options, you may be alarmed by the high deductibles and out-of-pocket maximums compared to an employer-sponsored plan. The best way to view the individual market is most of these plans are major medical policies compared to group plans.
Most consultants will purchase an HSA plan as they may currently have one established. You may have different needs, especially if you’re currently using brand-name drugs.
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