People who are self-employed or desire to start their own business either in prime age or after retirement, you might be looking for a good self employed health insurance plan that would cater to all your requirements.

With multiple options available this could be a daunting task for you. It would be better if you continue to retain your earlier health insurance plan that you had while in corporate job. You can invoke your rights under the provisions laid down in the “Consolidated Omnibus Budget Reconciliation Act”, 1986 or COBRA in short.

Even after you relinquish your job, you can keep the current coverage alive at group rates for the next 18 months under COBRA. The only time you will lose such facilities is if you lost your job due to gross negligence or dereliction of duties.

Unlike the group health insurance and other such programs you will have to pay the entire cost of your insurance under the self employed plan. The reason is that you are the employer as well as the employee in this case. Even if the employee is one of your family members, it is you who have to bear the costs in all cases.

The difference is at time stinging. The workers, as the Kaiser Family Foundation revealed through research, pay only 28% of their insurance expenses. In self employed plan you bear the entire cost.

Despite these set backs, self employed health insurance is preferable for independent minded entrepreneurs who does not like depending on their corporate employers for health care and other such benefits.