Affordable condition assurance Plans for an Unemployed or Self-Employed private

Can I Deduct Cobra Health Insurance Premiums - Affordable condition assurance Plans for an Unemployed or Self-Employed private

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Can an unemployed or self employed person find private health insurance? I always thought that once you are unemployed, or self employed, you were going to pay through the nose for insurance. If you were laid off from your job, you get to spend a lot of money monthly on Cobra payments. (Consolidated Omnibus allocation Reconciliation Act)

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Can I Deduct Cobra Health Insurance Premiums

For those of you who have not had the lovely palpate of being released from a job and don't know what it is, Cobra allows old employees to continue their group health plan through their old boss by paying the monthly premium. The selected is regularly a lot higher because the employers contribution is no longer there. Cobra commonly lasts for about 18 months. I used to think that once Cobra ran out, that was it. You were doomed.

After doing some research, I found out that the end of Cobra isn't a death knell. There are options out there. There are some states that allow a self-employed private to purchase a group procedure for a group consisting of one person. In other states you must have two citizen to qualify for a group rate. If you are self employed and your spouse assists you with things like filing, answering the phone, bookkeeping, you may qualify for the group rate by claiming your spouse as an employee.

Yet another option is Nase, the National connection for the Self-Employed. Nase has a program called 105 Hfr. through this program self-employed individuals may deduct 100% of their premiums and their non insured medical expense from state, federal and self employment taxes. This sounds like something worth investigating if you're self employed

If you're not a firm owner, there are still options that may suit you. You may be able to join an connection and enjoy a lower selected group plan. You can join a trade or alumni association.

In researching for this article, I discovered that as a writer I might want to explore the group health programs offered by Asja, American community of Journalist and Authors. If I were an actor, I might look into a plan offered by The Actors Fund of America , or a fitness teacher I would look into Idea, an society for health and fitness professionals. Pregnant women should explore American fertilization connection which, in increasing to government funded programs, offers discount health programs such as MaternityCard(Tm) AmeriPlan. Get the idea? There are options available.

Association premiums are lower because the plans are not subject to the same state regulations that group health plans are subject to. However, unlike a group plan, all members are not expensed the same premium. Members premiums are calculated individually.

I've mentioned a few associations above. I strongly suggest that you do your own research. There may be an connection in your single field in which you can participate. Talk to people, network, use the internet. Don't stop until you've found something that will work for you.

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