Self-employed health insurance can be tricky, and you have to be a very smart player in order to get coverage at affordable rates. When you leave your corporate job, you should continue with the same kind of health insurance for a while; you have this right according to COBRA (the Consolidated Omnibus Budget Reconciliation Act). You can continue to pay premiums at the level of the group rates you previously had for up to 18 months after leaving your job.

Information on COBRA coverage is available with the US Department of Labor and you can refer to it in order to better understand your rights and benefits under th circumstances. Even so, when you pay for self-employed health insurance, the price tag is usually a shock given that you have to provide full coverage. Typically, an employee only pays 28% of the insurance premiums when working in a corporation that provides health insurance packages. There is one thing you can do to limit the level of the premiums.

During the open enrollment period that precedes your departure from the company, you can file an application to continue paying for a health insurance plan that is less expensive. Get whatever you find cheaper in order to have a lower self-employed health insurance premium according to the COBRA coverage. When the COBRA benefits are over, you have 63 more days of health insurance coverage provided that you find a new policy during this interval.

The problem of the self employed health insurance could be solved if you have a working spouse and you can join his/her plan. This option is usually more efficient from the financial point of view, and the premiums are often lower than the COBRA option too. Check your options well before reaching a decision. This means that you have to compare as many health insurance plans as possible in order to get good coverage for decent money.

For self-employed health insurance, you can also get a plan with a higher deductible so that some of your tax dollars may go to your tax-free health savings account. This money can be later used to pay for the medical expenses that do not get coverage or reimbursement by the health insurance plan. More money can be saved if your business grows and you start hiring employees. Small businesses can get you a better form of self-employed health insurance than an individual plan.