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Arizona Self Employed Health Insurance

Arizona self employed health insurance can give a boost to the Arizona small business owner or it can drain precious time and resources while providing a headache to boot. There are many different things to consider if you are a self employed Arizona resident and searching for health insurance.

Whether you have been self employed for many years OR maybe you are just starting out on your own OR maybe you are still working for “The Man” but aredebating making the self employed “Jump” – either way – Here are a few helpful ideas for you to consider:

As a self employed worker in Arizona you have many different types of health insurance potentially available to you. This includes indiviudal health insurance, small business or group health insurance, COBRA health insurance, HIPAA health insurance, association health insurance, and conversion plan health insurance. Let’s break down these different types of Arizona health insurance options and see when and why they would be the best fit for an AZ self employed worker.

1. Individual Health Insurance – This is Arizona health insurance that is purchased out on the open market. It involves you submitting an application that will most likely have questions pertaining to the last 10 years of your health history.

If you and your family are healthy then in most cases this could be the way for you to go as individual health insurance is the cheapest health insurance option and as long as you go with a well-known reputable company like United Healthcare, Aetna, Humana, Blue Cross Blue Shield and some others then you will not have to sacrifice as far as comprehensive coverage is concerned. If you are unhealthy and someone in your family has some major health issues such as cancer, diabetes, heart disease or even obesity then you will most likely be declined for individual health insurance in Arizona and that will not be an option.

[HINT: Maternity coverage is ususally not covered automatically on an individual health insurance policy as with most group health policies so make sure that you either add the benefit on or speak with your agent/broker about other options if you or a family member will possibly become pregnant]. Many health insurance companies underwriting standards vary so it is extremely important to talk to an independent health insurance agent/broker that can give you objective advice and compare companies with you. Compare 5+ Arizona health insurance quotes from top Arizona companies for free in under 30 seconds! 

2. Group Health Insurance – This is Arizona health insurance that is purchased for a small business group. This group must not be formed for the purpose of purchasing health insurance and it must be a legitimate business and able to prove so to the state of Arizona. [HINT: You need to be upfront and honest with regards to tax issues and sheltering income and be carefule not to show different business and financial documentation to the insurance company than to the state of Arizona and to the Federal Government. Be upfront and honest with your tax and record keeping and hire a knowledgable CPA]. The criteria for group health insurance in Arizona is different than the criteria for individual health insurance and you must consult with a knowledgable health insurance agent/broker.

3. COBRA Health Insurance – This is Arizona health insurance that is given as a continuation plan for usually employees that are leaving their job. It is designed so that there will not be a lapse in health care coverage if you leave jobs (or more importantly, go to work as your own boss). [HINT: Again, if you are healthy you will probably not want to be on a COBRA plan as it is simply a continuation of your old group plan and carries with it the much higher group rates]. COBRA coverage cannot be continued forever and it usually expires after 18 months and in some instances 36 months.

4. HIPAA Health Insurance – This is Arizona health insurance that is designed by law for people that have expired their COBRA coverage and are not eligible for any other types of health insurance (most commonly because of health issues). It is an individual health insurance plan usually identical to a company’s comparable individual plan but it carries usually a much higher premium because the plan is issued on a guaranteed issue basis.

5. Conversion Plan Health Insurance – This is Arizona health insurance that is usually either HIPAA health insurance or COBRA health insurance or even a continuation of group coverage offered by the health insurance company that is providing the COBRA coverage (in other words, after the 18 months of COBRA coverage is exhausted sometimes the insurance company will offer to continue providing you the coverage on a permanent basis).

6. Association Health Insurance – This is Arizona health insurance that is many times marketed under a shady area of deception. Some association are great and reputable and other are something to steer clear off in any situation. Speak with a knowledgable independent agent/broker.

The tax benefits for being self employed are that you are able to deduct 100% of your health insurance premiums on the front of your 1040 up to your net schedule C income (minus 1/2 of your Self Employment taxes). This deduction is available to you regardless of which type of the above Arizona health plans you choose. [Don’t let an unscrupulous agent try and persuade you that you must choose a certain company’s plan in order to qualify for the self employed health insurance premium deduction as that is not the case].

Take 30 seconds of your time and compare free Arizona self employed health insurance quotes!

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