Time Frame

• If you have left a job that provided you with health insurance, you can still keep that same coverage for 18 months after you left the job. To do this, sign up for the COBRA coverage that will provide you with the exact same benefits that you had. You will not be able to adjust those benefits and they will cost more than when your employer was paying for part of your coverage, but this will provide you with a way to keep coverage while shopping for your own policy.
  
  

Types

• There are several different types of health insurance available to the self employed. Health maintenance organization coverage, known as HMO, may be available in some areas, though HMOs generally provide group coverage through an employer. More commonly used by the self employed are preferred provider organization (PPO) or point of service (POS) coverage. These plans are networks of doctors that accept the PPO or POS plan insurance. The coverage only includes the providers that belong to the network. For the PPO, there is usually a yearly deductible that must be met before there is any coverage. For the POS, there will be co-payments each time a doctor is seen.
  
  

Geography

• There are some states that offer health insurance coverage to people with home businesses. To find out whether your state participates, call your state's insurance department. If your state does not offer this type of plan, there are other options available. The easiest way to find out is to call a local insurance broker and to ask about which plans are available. Some companies, such as Blue Cross and Blue Shield, offer individual plans only through other insurance agencies, such as Alfa Insurance. A local broker will know which companies offer plans through third parties and will be able to help you to compare plans.
  
  

Function

• If you want to look for insurance on your own or can't find a helpful broker, there are insurance companies that offer individual insurance policies and have their rates and information online. Golden Rule Insurance has many different individual and family policies for the self employed. Their insurance plans tend to have large deductibles and low monthly fees. This type of coverage is sometimes called "catastrophic" coverage because the high yearly deductible makes it most useful only if something catastrophic happens to the insured.
  
  

Considerations

• When looking for health insurance, always be honest with your broker and your insurance agency about any medical problems that you have. If you withhold information, it can cause problems, including law suits, later. The rate you pay may be higher if you hide aspects of your medical history, but if you are honest about your health you can sleep better, knowing that you are covered if something should happen.