Frequently Asked Questions

I am Self Employed, What is Self Employed Health Insurance?  Actually there is really no such thing as a special policy only for "Self-Employed Individuals".  There are some companies who only market their products to Self Employed people, but for the most part this is not a special type of insurance policy.  If you are self employed you may be entitled to certain tax benefits, which apply to self-employed people.  These tax benefits may include a tax deduction for the premiums you pay.  One of the best tax advantages you can have is to purchase an HSA compatible health insurance policy.  This type of policy works great for self-employed persons as it allows them to control the amount of money they spend for health care more directly, and allows them great tax incentives for placing tax-deferred funds into a separate interest bearing saving/checking account out of which health care costs are paid.  Any funds not used for healthcare, can remain in the account and apply for retirement or rolled over into the next year's health care expenses. In the past, the US Government allowed Self-Employed persons to purchase MSA's or Medical Savings Accounts, however they expanded the program and named them HSA's and now all Americans can purchase HSA's.