Obamacare & The Affordable Care Act For Self-Employed

How will the Affordable Care Act For Self-Employed affect small business? For self-employed individuals in particular, there are new options for health coverage and other changes under the health care law that will directly affect you in the coming months.

Under the Affordable Care Act, self-employed business owners now have more options to find affordable health coverage. Beginning in January 2014, self-employed individuals and other consumers will be able to purchase their insurance through new Health Insurance Marketplaces (also referred to as Exchanges).

Health insurance plans offered in these new insurance Marketplaces will offer a core package of benefits, known as “essential health benefits.” The plans may vary according to the percentage of costs the health plan covers, or “metal levels”: 60 percent for a bronze plan, 70 percent for a silver plan, 80 percent for a gold plan, and 90 percent coverage for a platinum plan. Issuers may offer catastrophic-only coverage, which includes free prevention and several primary care visits, to young adults among others.

Self-employed individuals may qualify for tax credits and cost-sharing reductions on a sliding scale, based on income, to purchase coverage in the Marketplace. Increased access to quality, affordable health care will make it easier for potential entrepreneurs to go out on their own instead of staying at larger firms simply because of "job lock” or the lack of access to affordable insurance outside of work.


How to get Self-Employed Health Insurance For The Affordable Care Act

We can help you find an affordable health insurance policy that works with Obamacare.