Medical insurance for freelance bloggers is a challenging matter. Between trying to maximize earnings, and not having an employer to provide medical cover, most bloggers end up forfeiting health insurance.
This is an expensive and precarious situation as any healthcare costs must be paid out of pocket. Bloggers in such circumstances cannot take advantage of the economies of scale that insurance offers.
While in the United States the Affordable Care Act moved healthcare insurance for self-employed people that much closer, it is still out of reach for many.
To help you get a grasp of what options exist for you, we have prepared a quick primer on what to focus on, how to find the best deals and what subsidies are available to you as a self-employed blogger.
#Understand the Basics
Like everything else you must master as a freelancer, healthcare insurance begins with research. Do you understand the health insurance structure in your state? Has your state set up a marketplace or will you need to buy insurance from the federal healthcare marketplace? What tax credits are available for you at your income level? What do deductible, copay, and coinsurance mean?
As you do your research, first master the basics then zoom in on those aspects that specifically apply to you.
How much on average do you earn and what does that translate to? Does your spouse have medical insurance from their employer or are they also self-employed? Once you understand the basics, it is time to go shopping.
#Overcome Price Shock
The first thing you will encounter when you start shopping for health insurance is the sticker prices. Frankly, some of the prices will shock you.
While most of your counterparts reach this stage and backpedal, do not. Dig into the details of each price and see what options exist.
For instance, federal insurance plans come in several bands, from bronze all the way to platinum. Each band offers different benefits, levels of cover and so on.
The platinum band, for example, will pay up to 90% of all your medical costs while the bronze cover will cover only 60%.
It does follow that the platinum plans have heftier premiums than bronze plans. One way you can get more details is to contact BGA insurance.
#Get All Subsidies You Are Entitled To
Most freelance bloggers are entitled to subsidies owing to the income bracket they fall under. In the US, individuals earning $47,520 or less and families earning $97,200 or less qualify for these subsidies.
While the sticker price may be high, once you factor in the subsidies, these prices can go down by up to two thirds.
Keep in mind, however, that most subsidies will only apply if you are taking up federal or state healthcare plans.
You can also opt to take insurance directly from insurance companies, but these will come with a more rigid sticker price.
Bloggers, like any other self-employed persons, need to know that when it comes to running their business, they are CEO and HR all rolled in one.
This means taking the time to work on administrative staff welfare activities as a matter of priority.