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health insurance for self employed

As we celebrated the 235th anniversary of our nation's birth this month, it is worthwhile to reflect on just what made our nation great.  I think that one of the main catalysts was one of hope.  Hope of what we could accomplish.  Hope for what our children could become.  Hope that we could build a better tomorrow through hard work and determination, that our efforts are not an exercise in futility, but would produce result that we will reap the benefits from.

The American dream is the promise of possibilities.  That you can achieve whatever you determine and work towards.  This is a precious and powerful thing.  This is a fairly unique characteristic of the U.S. culture and economy.  There are not restrictions from culture, society, or government that limit opportunities to a select few.  It is open to all.

The dream of owning their own business is one held by many Americans; however, one of the main hindrances beyond the economy and finances is the challenge of finding health insurance for the self-employed.    Large corporations have the advantage of  bargaining power.  Even mid-sized businesses find it easier to bargain for favorable benefits in health insurance policies.  However, the sole proprietor and micro business owner is often left out in the cold when searching for coverage 

.It may be more challenging, but there are still health insurance options available for the self-employed business owner.

Trade and Professional Organizations

One of the most frequently visited sources of insurance for the self-employed is through trade or professional organizations.  Many organizations have negotiated insurance coverage for their members, which members then have the option of purchasing. 

Texas Health Insurance Agent

One other common method of purchasing individual health insurance coverage is through an insurance agent.  While many may visit insurance web sites to get a quote online, a health insurance agent  will be able to guide you through the options available and help you choose a plan that will be fit your needs.

Health Insurance Cost Deductions for the Self Employed

If you are self-employed and are not eligible for health insurance through an employer, either for yourself or a spouse, you may be eligible to deduct the cost of health insurance premiums (medical and qualified long term care insurance) as an adjustment to gross income

Health Insurance for Small Businesses

In 2009, the Texas legislature passed a bill to create "Healthy Texas," an initiative to broaden the pool of insurance policies available to small businesses and to in turn, provide more coverage to individuals and families in Texas.   

The policies under this initiative are available to businesses that have between 2 and 50 employees, the employer pays at least 50% of the premium, and at least 60% of the employees will opt in to the coverage.  The plans in the Healthy Texas network may also be eligible for a small group tax subsidy.   (Contact a qualified tax professional to determine the qualifications for your specific situation.)

You can find out more information program and determine the eligibility of your business by visiting the Healthy Texas web site or a Texas health insurance agent .

While finding Texas self employed health insurance is challenging, it is not impossible.  A knowledgeable health insurance agent  can help guide you to the best program for you.