Thinking of Becoming An Entrepreneur? Watch Out On Your Health Insurance
29 August 2006This article by Deborah Vrana over on MoneyCentral suggests that anyone thinking about starting their own business - or anyone who might be at risk of losing their job - should watch out as far as health insurance goes. It can be very hard to get individual insurance outside of a normal corporate health insurance plan - and companies are turning increasingly to common health problems as a justification for turning down your application. Thinks like counseling, prozac, or mild mood disorders are common reasons for turning away an applicant - or forcing you to pay extremely high insurance rates for coverage. So if you’re going to the doctor for something minor and you’re planning on leaving your job, it might be best to pay in cash.
You do have some other options, though. There are a couple of companies that cater specifically to small business owners by essentially mimicking a large company - they have a broad group of people insured and so it doesn’t cost as much for a single person. You can take a look at eHealthInsurance, which is one. Another option is to join an association like the National Association for the Self-Employed. They’ll help you find cheaper insurance for you and for any employees you have who need to be covered.
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