Self-Employment and Individual Health Care Insurance Plans
Recently, the government passed new laws that insure that all Americans have access to affordable, medical or health insurance. Before you decide to consider any changes to your existing medical health insurance, you should learn more about what these laws deal with.
Many of the new laws will have an effect on you and your family and they should be studied in detail so you can prepare for those changes properly. For example, if you are self-employed and currently have no individual medical insurance you will be required to have a plan or you may be required to pay a “fine.” This may seem unfair, but if you are injured and have no medical health insurance, either the government or an insurance company will cover your hospital bills, which in turn raises the cost of individual medical insurance to everybody, including you.
The new law also includes new mandates that will assist many lower income households and other people in paying for individual medical insurance. Small companies that cannot afford to provide medical health insurance for their employees may be granted tax breaks to offset these costs. Individuals that purchase individual medical insurance from private companies may also receive government tax benefits to help them pay for their medical health insurance, among numerous other advantages under the new laws.
If you are self-employed, this will be more important to you as these laws make it easier for you to afford individual medical insurance coverage. Other aspects of the law include guarantees that no one can be denied medical health insurance due to a pre-existing condition. This may be of importance to you due to a disability or other major illness such as diabetes, especially if you do not qualify for existing help like Medicare or Medicaid. This means that you will have the coverage you need from your medical health insurance and will be able to afford it as well.
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