Health insurance is important to everyone. We need it to protect not just ourselves but our families as well from unexpected healthcare costs. For those that are self-employed, getting health insurance can be a confusing process. 

Thankfully Very Good Coverage comes in by providing you with a health insurance option that suits your income and your lifestyle. 

Who Can Get Self-Employed Health Insurance in Maine?

To be eligible, your income needs to come via a business that doesn’t have any other income-reported employees on your W2 form. 

The good news is that there are numerous cost assistance options available to select from. 

If you are self-employed and run a business, you are also not left out. All you have to do is register as a small business and use the SHOP exchange to get a policy that is made just for you. 

What Should I Know About Self-Employed Health Insurance?

One thing you should note is that the cost of self-employed health insurance in Maine varies depending on the type of plan you choose and of course, your provider. 

How much you pay as monthly premiums is wholly dependent on your income. For instance, there are certain plans that are only available to individuals with a low income.

Self-Employed health insurance policies are also flexible enough for you to switch your plan to suit your income levels. This also means that you may be eligible for government subsidies which can help lower the cost of coverage.

Types of Self-Employed Health Insurance Plans Available

Just as with family and individual health insurance plans, self-employed health insurance coverage comes with various plans you can select from. They include:

  • POS
  • EPO
  • PPO
  • HMO

Benefits of Self-Employed Health Insurance In Maine

  • Individuals that get self-employed insurance for themselves and their families are eligible for tax deductibility. This means they are able to deduct 100% of their premium.
  • Being self-employed also means that you can be eligible for a group plan. And being part of a group plan means that you can pay for insurance coverage using pre-tax dollars. This has the benefit of significantly reducing your contribution amount once the year ends.
  •  Considering you would be paying the premium and receiving the benefits, you are eligible for high deductible and low cost comprehensive plans like PPOs.
  • If you are a small business owner, you might be eligible for tax credit, which can help reduce the cost of your employees’ premiums.

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