Health Insurance Considerations for Self-Employed Individuals | Rocky Mountain Health Blog

By RMHP

SelfEmployedInsurance

How to Choose an Individual & Family Health Insurance Plan

Many individuals are offered health insurance through an employer (or their partner’s employer), but how can self-employed freelancers, contractors, gig workers, and others get the coverage they need to stay healthy?

The answer is individual & family health insurance coverage.

When to buy individual & family health insurance

Barring certain exceptions, you must buy individual & family health insurance during the annual Open Enrollment Period. In most states, the Open Enrollment Period runs from November 1 through December 15. In Colorado, the Open Enrollment Period lasts until January 15.

It’s also possible to apply for coverage in a Special Enrollment Period (SEP) if you experience a qualifying life event. Certain major life events, including getting married, losing other coverage, or having a child, trigger this exception to open enrollment.

You can learn more about qualifying life events at connectforhealtco.com. If you qualify for an SEP, you typically have up to 60 days from the date of the event to sign up for a health plan.

Assess your medical needs

When considering a health plan, it’s important to think about your medical history and needs. If you have a chronic condition and take multiple medications, you may need a much different plan than someone who only sees a doctor for preventive care and screenings.

Factors to consider in addition to the monthly premium include:

  • The plan’s annual deductible, copays, and other out-of-pocket costs.
  • The medical network, including doctors, hospitals and specialists.
  • The availability of specific coverages that you may need, like mental health care and physical therapy.
  • The plan’s drug formulary, which lists covered prescriptions.

Purchase a health plan directly from a health insurance company

You can buy health insurance directly from an insurance provider, like Rocky Mountain Health Plans. Our local Individual & Sales team is happy to answer any questions you might have. health insurance as a self-employed individual. Call 800-453-2981, option 4, or contact us online.

Look at health insurance plans available on your state’s marketplace

Depending on where you live, you may be able to purchase individual insurance through the federal marketplace or your state’s marketplace. States like Colorado have their own health insurance marketplaces. If you don’t live in Colorado, visit HealthCare.gov to enter your zip code and learn about options.

Consider working with an insurance broker

Health insurance can be confusing, but there are professionals who can help. Insurance brokers can help you find the plan that may be best for you.

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