5 Budget Friendly Healthcare Plans for Entrepreneurs

The Best Options Available for the Self-Employed

small business insurance

One of the last items on my list to invest in as an entrepreneur was medical coverage. I quickly realized that finding affordable self-employed health insurance options wasn’t easy. There are many choices but not all of them were within my budget. Did I really want to put my last spare dollars into purchasing insurance when I may not use daily?

In the words of @NotKarltonBanks infamous Sister Bun, “Hallelujah Yeah!”

healthcare for entrepreneurs

Healthcare is essential for everyone to purchase. I became frustrated trying to figure out whether or not good healthcare insurance coverage us worth budgeting. As an entrepreneur, your business operates by how healthy you are. Most importantly, if you are the single employee for your business the income generates only when you are available to meet the needs of your clients. This proves the importance of self-care and healthcare.

Obtaining medical insurance is more than receiving yearly physicals and ensuring your flu shot is paid for. Many healthcare plans include therapy options as well. I am a strong believer in speaking with a therapist as often as needed to ensure your mental health is nurtured. Having a clear mind will allow you to grow professionally.

There are multiple health insurance options out there for the self-employed. It may take some digging to find an option that meets your current health care needs. However, it’s well worth the effort. When I began transitioning into a full-time entrepreneur I spent a few months filtering through hundreds of insurance options for business owners. I hope my personal research may be of assistance to other self-starters who are in the market for medical coverage.

insurance for newly established startups

5 Health Care Options for Entrepreneurs:

  • Healthcare.gov is the marketplace for health insurance. 2018 open enrollment is almost over but 2019 Open Enrollment season begins November 1st. If you are currently uninsured I highly suggest for you to make a move now and invest.
  • COBRA coverage is a go-to for those who are currently employed as a full-time employee and are transitioning into full-time entrepreneurs. Depending on your current health insurance plan and your eligibility, this federal law that allows you to continue paying for your employee health insurance for a limited time after your job end may provide you with quality coverage during this transition period.
  • Short Term Health Insurance allows you to purchase low-cost insurance outside the open enrollment dates. Individuals who suffer from chronic ailments must take note that coverage can be refused with this plan.
  • eHealthInsurance is one of the most affordable health insurance options for self-employed freelancers. You can compare different health plans available for yourself or your family in the area you currently live in.
  • A Health Savings Account is an account that allows you to have much more self-control over health insurance and tax-free funds. Plus, you get a tax deduction for contributing into it. Usually, you get a debit card with the account, so you can easily pay for everything from prescriptions, to LASIK eye surgery and other surgical procedures.

Another option available is Association Benefits. The benefits are offered by certain organizational membership programs such as your local Chamber of Commerce and the National Association for the Self-Employed (NASE). Please note that the membership fees may be quite expensive and to shop around for other plans before utilizing this option.

Overall, try to avoid being uninsured at all costs. There are many options available to fit your needs in taking care of your health. And do not forget about life insurance as well!

What health insurance provider have you found helpful to entrepreneurs and small business owners? Please feel free to share below or contact me with tips to add!

Reader Interactions


  1. I must admit I do rely on the UK NHS which is great when you really need it. I think health care plans are essential otherwise and even here if you can afford them. As a small business we do have all the insurance for our holiday business, that is an essential.

  2. Health care is SO expensive for anyone who is self employed. This is a great overview of the options there are out there!

  3. Cool, I never thought of the healthcare field being a great place for entrepreneurs exceptionalism my be doctors. Very helpful information I’ll pass on.

  4. Oh wow, What a great roundup. this is something that I really need and I am actually looking for the best healthcare that we can use. Glad I found this

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