Health insurance for the self-employed is a type of plan that allows professionals without an employment contract to buy private medical coverage, guaranteeing access to consultations, exams, hospitalizations, and medical procedures.
It is a form of financial protection and security for those who do not get this benefit from a company.
There’s a lot to love about being self-employed, including flexible hours and the ability to work from anywhere. But a major drawback is having to pay the entire health insurance bill yourself. However, with self-employment on the rise in recent years, it's becoming easier to find health coverage as a self-employed worker.
Why Get a Health Cover If You’re Self-Employed?
It is common for business owners (self-employed people) to take on multiple roles to keep their business running, and their own health ends up taking a back seat. But an unforeseen event is all it takes for this to change suddenly. Unexpected consultations, exams, or treatments can weigh heavily on the budget and compromise not only well-being but also the continuity of your work/business.
Here are 3 ways to get health insurance if you're self-employed.
1. Join your spouse's or partner's health plan
If your spouse or partner has health insurance through an employer, you may be able to join their plan. First, determine how much coverage you would receive, whether the employer subsidizes part of the cost, and how much you would have to pay per month. This option may be the most economical because group insurance generally costs less than individual coverage.
2. Get health insurance through a professional organization
If you belong to an organization, such as a union, alumni association, retirement group, or professional association, ask if they offer group health insurance. Some business groups share the cost of health insurance in the same way an employer would. And some professional organizations can help you connect with a group health insurance plan.
3. Buy your own plan
As a self-employed individual, choosing the best health plan requires evaluating criteria that go beyond the monthly price. A cheap plan with a limited network or long waiting periods can lead to future frustration. Therefore, before signing up, it's important to consider:
- Monthly fees (premium)
- Network hospitals
- Waiting period
- Reimbursements
You can purchase your own health plan (individual or family plan) through a private health insurance company, such as Turaco Insurance, with whom we have a partnership to provide affordable health cover for daily income earners.
How can I save money on my health insurance plan?
Time is valuable when you're self-employed. It's helpful to choose a plan with easy access (like M-KOPA Health Cover) so you can manage your health anytime, anywhere. Also, you can immediately start to enjoy this benefit when you get a M-KOPA smartphone and do not default on your payment plan.
Health emergencies call for immediate help, and having M-KOPA Health Cover comes in handy. You can read some of our success stories from daily income earners like you who received their claims through Turaco insurance.
Conclusion
Seeking health insurance as a self-employed individual is not just a decision about medical care. It's a way to sustain yourself (or your business) with greater stability, protect your income from unforeseen events, and ensure that your health doesn't take a backseat when time is tight.
Throughout this article, we've shown that it is possible to access a comprehensive plan even while working independently. Contact us if you’re ready to get started on getting a health cover.
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