About the author : Sam Kituu

Freelancers, sole proprietors, and contractors are people who do business on their own and do not work for any specific employers. A downside of working as a freelancer is the fact that you fail to have access to any employee benefits. Freelancers get to enjoy many benefits such as being flexible and having a great work-life balance. However, despite having these many benefits, it is good for freelancers to manage all aspects of their life and work.  

Having great health is an asset to anyone who works for a company or is self-employed. If you are a freelancer, health insurance is something that you need to put into consideration. Most companies that do business with freelancers do not provide any coverage to these types of employees. 

In this article, we discuss some of the different ways through which freelancers can get health insurance.

Freelancers Union

The Freelancers Union (FU) is a type of a non-profit organization that supports the self-employed workers in matters of insurance. Meetings are held each month by members of the union to discuss labor laws that are ever-changing and give insight to the attendees on any new change in the union. 

They help independent freelancers, contractors, and sole proprietors to have access to healthcare plans. If you are interested in joining this union, you can go to their website and fill up an application form. In the short application form— you will have to fill some necessary information about yourself like, for example; you name, date of birth, zip code, email, and your estimated income.  

Once you are done filling the application, FU will then send you a list of all the healthcare plans that might work for you. 

Spouse Employer

Is your spouse employed to a company that provides excellent health benefits? If this is the case for the person you are married to, then you have certainly hit the jackpot. 

Most companies offer their employees’ health benefits that can cover for the family of the employee. To receive the full family cover, the employee must be a full-time worker. This is among the simplest ways through which a freelancer can get health insurance. 

Get to know that in almost any every case, a family plan will always cost slightly higher than an individual plan. There are, however, some few generous companies out there that allow their employees to add a few members of their family to their insurance plan for free. 

Retirement Account Set up

As a freelancer, you will need to create an Individual retirement account (IRA). Freelancers don’t have access to a 401(k) account which is employer-sponsored. The two best options that you may have as a freelancer include; opening up the old-traditional (IRA) account which is funded with pre-tax dollars or a Roth (IRA) account that is funded with taxed dollars. 

You may also decide to open SEP IRA accounts. These accounts are designed to help self-employed individuals, for example, freelancers or sole proprietors.

Final Thoughts

Generating your health benefits packages as a freelancer will cost you more, and this is why you need to price your services reasonably.

About the author : Sam Kituu

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