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Best Health Insurance For Freelancers
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Must Read Pieces Of Financial Advice For Freelancers
The US health insurance system is woefully tied to traditional labor. In 2021, 54.3% of policyholders received their insurance through their employer.
If you're a business owner or freelancer who doesn't qualify for Medicare or Medicaid, you'll need to do a lot of extra work to find the best self-employed health insurance.
To help you get started, use this list of some of the best home insurance providers. However, try to buy the maps directly from the companies. Just remember it when you check Healthcare.gov or your state's marketplace.
📕 Must Read: Still not sure how whole health insurance works for business owners? If so, follow our process description before reading further: How to get health insurance when self-employed.
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United Health is one of the most recognized health care providers in the country. Founded in 1977, they have become the nation's largest health insurance provider in just a few decades.
Part of the UnitedHealthcare Group, the health insurance provider has the largest individual market share with 14.1% in 2021.
They offer plans in all 50 United States and 130 countries. By 2022, its network had more than 6,500 affiliated hospitals and more than 1.3 million service providers.
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If you are one of those itinerant freelancers moving from state to state or even planning to live abroad for a while, United Healthcare is a great company to use. Whenever you move to a new location, you won't have to worry about finding a new provider.
Financially, United Health is solid. They received an A+ financial strength rating from AM Best in 2022 and an AA- for long-term issuer credit rating.
Unfortunately, their plans can be more expensive than similar offerings from their competitors. As a quick measure, United Health does not have the cheapest silver health insurance plan in any of the 50 states.
With such a large customer base, it's no wonder they also have mixed customer reviews and satisfaction levels. UnitedHealthcare did not gain any territory in the JD poll. Power Research in 2022, but they average just under four stars in Consumer Services.
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Cigna is another titan of the health insurance industry. They have one of the longest histories in the business and have been providing services since 1792. They are another provider with a significant market share, millions of customers and an extensive global network.
Its greatest appeal comes from its emphasis on technology, comfort and innovation. The entire industry has moved to virtual care since the pandemic, but Cigna's plans include 24/7 access to virtual care for longer.
In addition, Cigna also has a good financial outlook. After all, they managed to stay in business for over two centuries. As expected, A.M. Best gave them a financial strength rating of A, which is excellent.
Cigna plans are also on the cheaper side of the spectrum. They only operate in a dozen states, but in three of them they offer the cheapest silver plan on the market.
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Speaking of which, their main drawback is probably that their health insurance plans are only available in twelve states. Apart from that, its customer reviews are also mixed. They only have a 3.1 out of 5 star rating from Customer Service, but they did well in J.D. Survey Power.
Oscar is relatively new compared to many other companies on this list. They only started doing business in 2012, but have taken it to the highest level of competition. They now have over 1 million members in twenty states and a rapidly growing provider network, with more on the way.
The initial status of the Oscars is a large part of what makes them so attractive. They are a young company and have the fire that usually comes with meteoric rise. They can provide:
Of course, his youth is a strength, but it is also his weakness. They don't have the decades-long track record of some of their competitors, and they're too young for A.M. Manage your finances better. Because they are still so new, they are not as mature in many states as a provider like United Health.
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Oscar plans also tend to fall in the middle of the pack when it comes to value. They have affordable plan options, but members may have to pay more to get better care.
Like Cigna, independents will likely appreciate Oscar's dedication to technology usability and convenience. They will certainly continue to update as they grow in the years to come.
Kaiser Permanente is a unique entry on this list. Although they are an insurance provider, they also have their own facilities and providers. That integrated system allows them to offer seamless referrals and provide seamless access to care.
Kaiser also has super customer satisfaction levels. They have a 3.7 star rating on Customer Service and are ranked 5th out of 21 regions in J.D. were #1. Power Research in 2022.
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Their prices are also much cheaper than it seems they should be, because they have top-notch service. They have the cheapest silver plans in four states, the third cheapest in the country.
Kaiser stability is also at the highest level. They have been in business since 1945 and are ranked ninth in market segment despite operating in a small geographic area. It has a financial strength rating of A+ from Fitch Ratings.
Speaking of which, that's Kaiser's only real drawback: They're only available in nine states. But if you live in an area that does cover them, a Kaiser plan is most likely your best option.
Last but not least is Blue Cross Blue Shield. They are another corporate giant in total value. They are among the best in almost every category, so there are not many complaints when it comes to their services.
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Besides being a jack of all trades, they may also be the cheapest option in the country on average. They offer the cheapest silver plans in nine states, the cheapest in the country. If you're looking for the best prices, Blue Cross Blue Shield is the place to start your search.
It also has one of the largest networks nationally, contracting with 96% of the country's hospitals and 95% of their service providers. They have coverage in all 50 states and serve more than 100 million members worldwide. Many of them are in 170 other countries where they offer coverage.
They also receive customer satisfaction scores, ranking first in 11 out of 21 areas in JD's survey. Duty. It is more than half of the country and more than its competitors.
The only downside to Blue Cross Blue Shield is the potential inconsistency between branches. The supplier is actually a conglomerate made up of 34 different companies. Their quality and services can vary greatly between them, so check their reputation in your state before doing business with them.
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There will never be the best health insurance for the self-employed. It will always depend on your personal circumstances, including your age, health, family and location. Start your search with these suggestions if possible, but don't limit yourself if they aren't near you.
If you find the process of finding your plan overwhelming, don't be afraid to get help from people who are experts in the field. A local health advisor can help you navigate complications, make recommendations and answer your questions.
📘 Learn more: Do you do your research before jumping into full-time business? Take a look at our process guide to help you navigate other challenges you'll face: How to start a business while working full-time (and replacing your job)
Although the Affordable Care Act (ACA) created a national health marketplace, plans are still specific to your state, even your zip code. First of all, you need to buy a second service provider that is within driving distance.
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Therefore, it is not possible to recommend the best health insurance plan for a self-employed person. It's very specific, and which one you choose will depend on your state, your needs and the quality of the network near you.
Instead, this is a list of insurance providers that is constantly reporting
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