Self Employed Health Insurance
With a self employed health insurance plan you can enjoy the advantages of private health insurance which may include faster diagnosis and treatment as well as greater flexibility in care. These advantages can be particularly important when every moment you spend away from running your business can result in lost revenue.
In return for a monthly premium your insurance policy will pay out for certain types of medical care, if and when the need arises. Health insurance usually only covers the treatment of acute conditions, and certain services will continue to be provided by the NHS such as accident and emergency services.
There are two main options when taking out a self-employed insurance plan:
- Joining a group health plan offered by your Chamber of Commerce or trade association.
- Purchasing an individual health insurance plan.
Which one you choose will depend on the cost you are willing to pay as well as the level of cover you wish the plan to provide. There may be a range of options available to you, from low cost basic inpatient cover to higher premium comprehensive health insurance that covers a wider range of ailments. You should always understand exactly what cover you can expect before making any commitment to a health insurance plan.
You may be able to get tax relief on the expense of purchasing a health insurance plan if you claim it as a business expense. Whatever option you choose, comparing the market is important and may help you to get a better deal for your money.
For independent advice on finding the best self employed health insurance policy to suit your needs, speak to an independent health insurance advisor and obtain a no obligation quote.
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