If you are self-employed, Obamacare has made your healthcare and medical insurance much more expensive and more restrictive. However, there still are options that few people know about.
Here are the 4 options you have if you are self-employed:
- Get an ACA plan from HealthCare.gov during Open Enrollment – If you are looking during the open enrollment period (November 1st through January 31st, or if your previous plan was discontinued, until February 28th), you may apply through the Health Care Marketplace (HealthCare.gov) . But don’t leap for joy, unless you qualify for a subsidy (see this page) those plans are usually more expensive than other options
- Get a Special Exemption and Get an ACA Plan – If you are looking outside of the open enrollment period) AND you have had a Life Qualifying Event or LQE (as defined here), you may still apply through the Health Care Marketplace (HealthCare.gov) .
- Qualify for Medicaid or CHIP – If it is outside of the open enrollment period and you have not had a LQE, you may qualify for Medicaid or the Children’s Health Insurance Program (CHIP)
- Get a Short Term Health Insurance Policy – Finally, if none of the options above work for you, don’t despair. You can still get a short term medical insurance policy. Unless you qualify for a subsidy through the ACA, these are actually the least expensive option and can still provide coverage as good as anything in ObamaCare. So let’s examine this option in detail