Choosing the best health insurance companies for the self-employed can be challenging, given the multitude of providers, policies, regulations, and expenses to compare. However, if you are a gig worker, freelancer, independent contractor, or self-employed, you will be required to get health insurance coverage.
The Affordable Care Act (ACA) designed a federal health insurance marketplace and provided states with the choice to develop their own marketplaces. Typically, these platforms present economical options for independent contractors, consultants, and gig workers. Moreover, selecting the appropriate insurance provider or plan can be tough most of the time.
Best Health Insurance Companies For Self-Employed
While evaluating the best health companies for self-employed individuals, we reviewed some suitable health insurance providers based on a few criteria. These criteria include state coverage, customer satisfaction, health management initiatives, tax advantages, expenses, dental protection, and the variety of plans available.
Blue Cross Blue Shield
Blue Cross Blue Shield (BCBS) stands out as the overall best health insurance company for self-employed individuals for various reasons. It bundles favorable expenses among other providers offering premiums, deductibles, and copays to be more budget-friendly.
Furthermore, BCBS policies present highly competitive costs and associated minimal-cost silver plans across all the insurers. Also, it has advantageous rates for older adults, making it an attractive option for those commencing or concluding a business while awaiting Medicare coverage.
Additionally, with its operations in 36 states and a vast network of 1.7 million healthcare providers, BCBS ensures a higher chance of finding accessible healthcare options.
Athena
Aetna’s policies available on the federal marketplace strictly include the essential health benefits mandated by the Affordable Care Act. Additionally, premiums are qualified for premium tax credits, reducing the premium to $0 for individuals, making it the best health insurance company for the self-employed.
However, it’s important to review the details of the plan, as certain bronze policies entail higher consumer cost-sharing in the form of deductibles and copays. Even for those who are not eligible for premium tax credits, Aetna presents rates that surpass the average across a diverse range of plans.
However, Aetna’s coverage is limited to 12 states, and individuals that don’t reside near CVS locations should access some of the plan’s optimal benefits.
UnitedHealthcare
UnitedHealthcare (UHC) is the best health insurance company for the self-employed, known for its excellent customer service, numerous plan selections, and valuable perks. One crucial benefit is the provision of affordable generic prescriptions, which enhances affordability for policyholders.
Additionally, it includes an excellent mobile app to locate healthcare providers and enable estimating medical costs. Also, UHC goes by including benefits presented to stress management and mental health.
However, it’s essential to note that UHC’s premium quality comes at a price, and the plans can be relatively expensive and operate exclusively in 22 states.
Oscar
Oscar becomes recognizable as the best health insurance company for the self-employed that offers affordable copays. Additionally, it offers a wide variety of plan types involving every available medical management program.
These programs address health concerns like asthma, diabetes, depression, pain management, heart disease, high blood pressure and cholesterol, low back pain, and pregnancy. However, Oscar’s plans are exclusively available in 18 states, and he is the only one among those surveyed to provide a weight-loss program.
Kaiser Permanente
Kaiser Permanente provides both affordable plans and an outstanding rating for individuals that require them. Also, it stands out as the best health insurance company for the self-employed, presenting an affordable premium cost.
Additionally, self-employed individuals with busy schedules might consider Kaiser attractive as it operates its own hospitals and doctor’s offices. The insurer-and-plan ecosystem has the potential to reduce paperwork and hassles for policyholders.
However, it has a limited national presence, available in only eight states and Washington, D.C. It’s essential to consider that the plan’s HMO setup may not cover out-of-network providers in most instances, which could be a point of consideration for some individuals.
Cigna
Cigna provides economical health insurance for self-employed individuals across 12 states in the United States. This provider offers the best health insurance for the self-employed as it provides simple and valuable perks, such as online consultations and home deliveries for prescription medications.
Additionally, it also presents cost-effective HMO and EPO plans, with online services catering to the needs of self-employed professionals. The most pleasant features of Cigna revolve around enhancing accessibility to healthcare for its members.
This implies that Cigna members can reach out to their doctors, obtain prescriptions, and receive their medications, all from the comfort of their homes.
Molina
For individuals in search of budget-friendly coverage in the absence of an employer, Molina stands out as the right option. Additionally, its Bronze and Silver plans present some of the most affordable choices in the market while still providing the best health for the self-employed.
Furthermore, this coverage stands against the obligation that affordable health insurance isn’t good enough. However, Molina Healthcare, as the main insurer, ensures reliable coverage for minimal premiums.
Meanwhile, it’s accessible across all 50 states, but ACA plans are specifically available in 14 states. Without ACA benefits, individuals can secure a Bronze or Silver plan without excessive costs.
Humana
Humana provides flexible PPO plans for a variety of coverage, making it the best health insurance for self-employed individuals for their primary care provider without higher premiums. While with Medicare Advantage, Humana presents plans at $0 per month, a factor contributing to its popularity among older Americans.
Although Humana’s PPO plans offer the flexibility to select your doctor, sticking to the company’s network can lead to more savings. The network is vast, featuring numerous doctors across all states.
Selecting the best coverage level and finding the ideal company are the right decisions during plan enrollment. The chosen company dictates the available doctors and hospitals, the quality of customer service, and the special benefits offered.
Conclusion
For self-employed individuals with a delicate balance between health insurance plans and maximizing available tax write-offs associated with the ACA exchange, However, it’s important to note that each insurer operates separately, influenced by state regulations.