Solo-entrepreneurs guide to health insurance
There are a lot of perks to being a freelance solopreneur. You set your own hours. You are your own boss. You collaborate with anyone you want. You follow your vision. You embody your own brand.
Unfortunately, freelance workers need to purchase health insurance on their own.
As a solopreneur, there are several ways you can get health insurance:
Through the insurance marketplace: You can do this by going to healthcare.gov or using a broker. A broker is the best way to ensure that you know that you are picking the right plan for you. They are educated on all the plans available and can access your lifestyle and financial situation to help guide you to choosing a plan. You may also be eligible for Medicaid or Medicare, visit healthcare.gov or call Cosmo to learn more.
Through a former employer: COBRA is a health insurance extension available for people who were formerly covered on an employer-sponsored plan. After your employment is terminated, you may elect to continue your coverage via COBRA. You’ll have 60 days after you’ve left your job to sign up. Talk to the HR department before you leave your current job to understand their COBRA process. When you elect COBRA, you may remain covered up to 18 months after you have left your job as long as you pay your monthly premium on time. This option is often a more expensive one, however allows you to continue care with doctors you may have been seeing while you were at your job.
Through your union: If you’re a member of a union like Freelancers Union or Actors' Equity, check to see if they offer health insurance. In order to be eligible for coverage through your union, you may be required to log a certain number of hours per week, quarter, month, or year.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.