Are you self-employed and need health insurance coverage in Virginia? Then you’ll be happy to know that there are wonderful coverage options for consultants, entrepreneurs and freelancers.
If you are self-employed In Virginia, securing great health insurance coverage for yourself and your family can be quite a challenge. Living in Virginia might mean the best self-employed health insurance for you is a group health plan.
A group health plan avails you access to:
One of the best benefits of a Virginia self-employed health insurance policy is that the plans are ACA compliant. What this translates to is there you do not have to worry about medical underwriting and every of the customer protections mandated by law are included.
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.
Considering you would be paying the premium and receiving the benefits, you are eligible for high deductible and low cost comprehensive plans like PPOs.
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.
If you are a small business owner, you might be eligible for tax credit, which can help reduce the cost of your employees’ premiums.
Being eligible for a group health insurance plan is all down to the SB 672 passed in Virginia. It requires health insurance providers to provide group health plans to self-employed people.
This means that single member LLCs, sole proprietors, corporations and partnerships with no employees, paid contractors or partners are eligible. To be eligible, your income needs to come via a business that doesn’t have any other income-reported employees on your W2 form.
To help you cut through all the terms and give it to you straight, you need to look no further than Very Good Coverage. We can provide you with all the necessary information needed for you to make an informed decision. It all starts with a quote!