Ohio Health Insurance Plans for the Self-employed

Ohio health insurance companies provide highly affordable health insurance plans for self-employed individuals with no other workers and employer groups with fewer than 500 employees. Health insurance plans for the self-employed can be customized to suit specific coverage needs.

Insurance companies offer traditional insurance, Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) plans for the self-employed. Health Savings Accounts (HSAs) are a popular plan for the self-employed in Ohio. The money that goes into the HSA is tax-free and used to meet routine expenses. The HSA can be combined with a high-deductible plan to cover major insurance costs. The high-deductible plan could be an HMO, PPO or traditional insurance.

Ohio Health Insurance Plans for Self-employed – Recent Landmarks

One of the most notable aspects of the recent healthcare reform legislation in the US is that insurance companies cannot drop people from coverage when they become sick.  Lifetime coverage limits are eliminated and annual limits, restricted. Other noteworthy points regarding insurance for self-employed include:

• Availability of a tax credit for some small businesses to help them provide coverage for employees
• Starting September 2010, small businesses with 25 or fewer employees can deduct up to 35% of their health care premium costs from their taxes, making the cost of coverage cheaper
• Young and self-employed are allowed to remain on dependent coverage till they turn 26
• Self-employed persons with medical conditions can join a high risk pool to make premiums more affordable
• Plans cannot have lifetime limits on coverage or cancel coverage except for fraud or intentional misrepresentation of material fact
• Starting September 2010, all health insurance coverage must include basic preventive care
• It is necessary that plans covering emergency services provide such coverage without the need for prior authorization, regardless of the participating status of the provider

Professional Assistance to Make the Right Decision

Health insurance is critical to hiring and retaining employees of a small business. Cost is important factor that needs to be considered. Premiums will depend on how many employees participate.  The best way to get Ohio health insurance plans for the self-employed is to approach reliable companies that represent health insurance providers. They would provide all the necessary information, get free quotes and help choose a suitable plan.