Health Insurance for Self-Employed Professionals

April 11, 2023
Reading time5 minutes
Jaqueline Corradi
Jaqueline Corradi
Content Manager

Taking care of our health is a serious subject. Health insurance for self-employed professionals can help you in times of need. You don't have to be hired by a company to own an insurance plan, which will cover part of your medical expenses in case of an illness or accident.  

Many insurance companies have already created specific plans that can be bought by freelancers and digital nomads. For example, you can travel all over the world, take your work with you, and have the peace of mind that you are protected by insurance. Self-employed people can avoid the fear of getting sick and having no conditions to pay for their treatments. 

Check out the article to know more about it. 

Who Is Considered Self-Employed?

Self-employed people are the ones who:

  • Work as a freelancer, providing services for multiple companies and people. For example, freelance writers and graphic designers.
  • People who work for companies but aren't considered employees, such as lawyers, doctors, real estate agents, and consultants
  • Independent workers such as contractors, sole proprietors of businesses, 
  • Private practitioners like accountants, and lawyers. 

Options of Health Insurance Plans for Self-Employed

In the image is written. "Where is my health insurance?".

Professionals usually seek to have a health insurance plan through the company they work for, but that isn't the case with self-employed people, Therefore they need to seek other options and there is a variety of plans to choose from.

Health Insurance Marketplaces

In the USA, there are several regional and state health insurance marketplaces. They aren't an insurance company, but they will offer you a list of health insurance agencies with multiple options. to choose the one that fits you best. For instance, people who live in California can use the Covered California marketplace. 

Membership Organizations

Being associated with a Union or other organization related to the type of job you make, can be very useful to find the best health insurance plan for self-employed. This is because those organizations usually have multiple partnerships to offer discounted services to their members. You can benefit from a group plan for members and hire an insurance plan for a lower cost. 

Short-Term Medical Plans

If you are self-employed just for the moment, but looking for other jobs, one alternative to not staying without health insurance is the short-medical plan. The problem, though, is that this plan has very restrictive coverage.

Limited Benefit Plans

As the name already suggests, limited benefit plans offer very limited coverage for health treatments. If anything exceeds the predefined rate, you will have to pay for all the extra costs. Therefore, it isn't recommended to be your main health insurance plan.

Individual Care Insurance Plan

Another option is to hire an individual care insurance plan, which can be just for you or include your relatives too. You can find a local broker or agent who will help you navigate through the alternatives you have to select the one that offers the best coverage but isn't outside of your budget. 

Digital Nomad Insurance Plan

If you are a self-employed digital nomad, hiring health insurance that suits your needs may be challenging since your lifestyle is based on traveling around the world. The insurance you chose needs to offer coverage in multiple countries. 

Fortunately, there are already health insurance plans built to meet those needs. One example is SafetyWing. This insurance company has a plan called Insurance for Nomads that enables you to have medical assistance in multiple countries, not only for you but for your family too. 

Aspects to Look For in Health Insurance for Self-Employed

As you can see there are many options for health insurance for self-employed professionals. However, when it's time to decide which one to hire, it's fundamental to carefully analyze the policies of each plan. Pay attention if the plan covers the types of medical assistance you need, such as preventive care, chronic illness treatment, urgent care, lab exams, and hospitalization. 

Also, check for the list of doctors, clinics, labs, and hospitals that are associated with the health insurance plan. They should offer a wide range of options, so you can have access to qualified medical treatment regardless of where you are. Another important detail is if the network hospitals and doctors offer discount rates. 

Also, look for health insurance plans that offer annual check-ups and preventive care at no additional cost. Make sure they provide 24/7 customer support as well. A bonus that counts points for the health insurance agency is if they have a website or app where you can easily find doctors, check your bills, and even make appointments.

Health Insurance for Self-Employed Digital Nomads

When the subject is getting health insurance for digital nomads, there are many specific aspects to check before buying a plan, such as: 

  • How many countries are covered by health insurance?
  • If you go back to your home country will the health insurance remain valid?
  • Is it possible to include your family in the same plan?
  • Do you need to stay in just one county or you can travel around? 

The life of a digital nomad has many particularities that need to be taken into consideration. You are away from home, in a foreign country, and having a health insurance plan is an important safety measure, but it has to offer the coverage you need. For example, coverage for emergencies. 

SafetyWing

The image shows Safety Winf home page

One alternative to help you with that is Safety Wing, a company that was developed by a remote team of nomads who know the challenges of this lifestyle. Their insurance for nomads includes medical and travel coverage. 

Medical

  • Hospital
  • Room and nursing services
  • Intensive care
  • Ambulance
  • Physical therapy and chiropractic care
  • Emergency dental
  • All other eligible medical expenses up to the overall maximum limit.

Travel 

  • Trip interruption
  • Travel delay
  • Lost checked luggage
  • Natural disaster
  • Political evacuation
  • Emergency medical evacuation

Choose the Best Health Insurance Plan for You 

Now that you have gotten to know more about health insurance for self-employed professionals, analyze them well before making any decisions. Make a list of what you are looking for in an insurance plan, define your budget, and select the ones that fit your needs. Before that, take a time to read the policies of each one, and pay attention to the possible extra costs, so you can take care of your health but not be taken by surprise by extra expenses.

Share this article
Like what you've read?
Sign up and try JivoChat for yourself!
It's free and only takes a couple of minutes to download.