Business owners are not required to carry health insurance, but medical costs and expenses can add up quickly. If you have to foot the entire bill by yourself it can get extremely expensive. Even if you and your family are healthy the “unthinkable” can and may happen when you least expect it.

Being prepared for medical emergencies is a wise investment. Accidents are certainly not planned, everyone would like to think “it won’t happen to me,” but when reality sets in we realize it could happen to anyone. There are companies who offer individual and small business plans for the self-employed. You may not be able to get as many benefits as you would if your worked for a large corporation, but most individual plans cover the necessities and are designed to help pay for large expenses such as emergency and hospital care.

Finding a Good Insurance Company

Health insurance costs have increased significantly in the last couple of years. Premiums continue to rise. Many self-employed people do not have insurance because it is so costly. You may think affordable health insurance is out or your reach, however you do have options.

How can self-employed people get quality, affordable health insurance? Here are some tips on finding a good health insurance company:

1. Shop the market. You should always get at least 3 quotes so you can get an idea of the price range you fall into.

2. Ask other business owners, friends, family and colleagues for referrals.

3. If you don’t have enough time to research different companies yourself then use a respected insurance agent you trust to represent you and your family.

4. Weigh all of your options. Become educated about the health care industry and decide what is the best option for you and your family.

5. Know your rights. Look into federal assistance, tax laws and the small business industry standards.

Resources for Insurance Price Quotes

There are many sites on the Internet where you can get free insurance quotes. Places like www.lowermybills.com and www.ehealthinsurance.com have done the homework for you. They offer side-by-side quotes from reputable companies.

Small business owners can also look into small group plans. Sometimes these plans are less expensive if you have a limited number of employees who want to join together on one plan. Large insurance companies like Intermountain Health Care, Blue Cross Blue Shield and Cigna offer individual plans. The individual and small group plans are similar to those offered though large companies but generally things like maternity expenses and chiropractors are not covered.

Another option is to find an insurance agent who will walk you through the process and help you select a customized plan to fit your needs. Again, you can ask family members and colleagues for agent recommendations; make sure you choose a reputable agent who will be concerned about your welfare and not a commission check.

When selecting an insurance plan you should know the basics like what is the deductible, what physicians are covered, what hospitals are covered under the plan and does it include vision and dental. Know your facts before you select an insurance plan for your family. What kind of plan will satisfy your needs?