Insurance can be hard to shop for, so learn about your options with these valuable guides.

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Benefits of Insurance for Independent Contractors

 

Independent contractors make their living working for other clients, rather than working for an employer. Being an independent contractor has a variety of benefits including working as much or as little as you want, not having to answer to a supervisor, and working from home in many cases. However there are also drawbacks to being an independent contractor such as not having medical insurance benefits that most employers would provide. This on its own is the biggest benefit of insurance provided to independent contractors.

 

What is an Independent Contractor?

An independent contractor works for themselves and therefore doesn’t have access to benefits from their employer, such as health, dental, life, retirement, paid days off, and disability insurance. Think of an independent contractor as the sole owner of a company; you are the one paying for health benefits because you are the owner and the employee. This means a lack of health benefits which can cost you hundreds or even thousands of dollars during each visit to the doctor.

 

Access to Medical Care

The first and main benefit to having insurance as an independent contractor is that you have immediate access to medical care. As someone without insurance, you would be considered a cash patient and most clinics and doctor offices won’t even admit you, even though you’re willing to pay out-of-pocket. However when you have insurance, they will be more than willing to accept you since you are covered by health or dental insurance.

 

Reducing Medical Bills

Another benefit is a major reduction in medical bills. A routine physical may cost you several hundred dollars while someone with insurance only pays a $10 co-pay for the visit. The more serious your injury or illness, the more you’re going to be paying in medical and hospital bills. With insurance, independent contractors get the opportunity to get the health care they need without having to work extra hours just to pay the doctors or hospital fees.

 

Insuring Children and Family Members

Lastly, by purchasing insurance, you will also provide your immediate family with insurance benefits on a discount, such as your spouse and children. This means everyone in your household is covered by a private insurance plan for independent contractors which will save you thousands of dollars each year. Plus, if your child gets sick, they will get admitted right away because they are no longer considered a cash patient.

 

Types of Insurance for Independent Contractors

 

Insurance is hard to come by when you don’t have an employer offering you group insurance benefits, but not impossible. The following insurance providers offer private insurance plans for independent contractors that are affordable and offer you and your family members a way to get covered. Even if you’re healthy and don’t foresee anything happening, accidents, illnesses, and surgeries can come up out of nowhere and cost you thousands of dollars. Instead of going bankrupt for medical bills, consider an insurance plan from one of the following providers.

 

Anthem Blue Cross Blue Shield

Blue Cross Blue Shield is a well-known insurance provider, offering different types of insurance worldwide. Anthem is one of their primary companies, offering independent insurance benefits to states including New Hampshire, Maine, Connecticut, Virginia, Georgia, Wisconsin, Missouri, California, Colorado, Ohio, Indiana, Nevada and Kentucky. They offer comprehensive health care, dental, and life insurance plans.

 

Odesk

Odesk is an online employer and provider of tasks such as data entry, virtual assisting, writing, editing, and customer service jobs. As a contractor for Odesk, you can utilize their health benefits with a choice of three plans; the Wellness Plan, Catastrophic Plan or Comprehensive Plan. The Wellness Plan starts at $210, the Catastrophic Plan starts at $140 with a $10,000 deductible, and the Comprehensive Plan combines these plans which starts at $280 a month.

 

Humana

Humana One offers a variety of health insurance plans including a traditional health insurance plan with co-pays, a short term health care plan for anyone only planning to be an independent contractor for a short amount of time, and a highly favorable High Deductible Health Plan (HDHP) with a 100% covered expenses rate following the deductible. They also have options for preferred deductibles, such as paying less deductible and higher monthly premiums or the opposite if you prefer to go that direction. They offer medical, dental, life, prescription discount plans, and other plans.

 

Tech Insurance

Finally, there is Tech insurance which is a newer company with more restrictions. While Tech Insurance is only for individuals or businesses who work in the computer, technology, or IT fields, it is highly beneficial for these independent contractors. One of the biggest benefits to choosing Tech Insurance for your health care coverage is that they also offer different business overages if you start your own company, such as general and business liability, umbrella insurance, worker’s compensation, business auto, and cyber liability insurance.

 

Odesk Independent Contractor Insurance

 

If you’re an independent contractor, you have undoubtedly heard of Odesk. Odesk is an online site offering different types of tasks that you bid on, such as writing, editing, graphic design, data entry, customer service, and general administrative tasks. Previously they only offered a way for independent contractors to find steady work and get clients, but they are now offering health insurance plans. There are three different plans available for individuals who work on a consistent basis for Odesk as a contractor.

 

Types of Insurance Plans for Independent Contractors

Independent contractors working for Odesk will have access to three different plans; the Wellness Plan, Catastrophic Plan, and Comprehensive Plan. The Wellness plan is for daily health care including a low deductible, guaranteed issuance, and up to a benefit of $20,000 for the year which includes any hospital visits. The Catastrophic Plan includes medical care and hospitalization coverage up to $1 million for the calendar year. The Comprehensive Plan is the highest level insurance plan at Odesk which includes the combination of the Wellness and Catastrophic Plan for maximum coverage. You can also get a 4th option of a life insurance plan that doesn’t require a physical examination.

 

NetBenefits Wellness Plan

The first type of insurance plan is the Wellness Plan. This insurance plan is known as a day-to-day insurance plan with a low deductible and a maximum of $20,000 coverage for the year. Premiums start at $210 a month for the Wellness Plan with includes guaranteed issuance with no minimum hours worked for Odesk.

 

NetBenefits Catastrophic Plan

Next is the Catastrophic Plan which is the most popular insurance plan at Odesk. This plan starts at $140 a month with a $10,000 deductible and has an annual coverage maximum of $1 million. The Catastrophic Plan includes routine visits, major medical care, and hospitalization. A short application and phone interview are required for the Catastrophic Plan.

 

NetBenefits Comprehensive Plan

Finally, there is the Comprehensive Plan which combines the Wellness Plan and the Catastrophic Plan. The Comprehensive Plan includes comprehensive coverage including major medical care, routine visits and check-ups, and hospital stays. Monthly premiums start at $280 for the Comprehensive Plan with the same application and phone interview as the Catastrophic Plan.

 

Additional Benefits

As an independent contractor, you can also choose additional benefits with Odesk including dental, life insurance, and discounted prescription plans. These can be purchased individually or in addition to other plans.

 

Humana Independent Contractor Insurance

 

There are many different insurance companies and providers offering health and dental insurance, but most of them don’t carry private insurance for independent contractors. Group insurance is much more common, but if you work for yourself, you don’t have access to insurance your employer would otherwise provide. Therefore, you will need to find an insurance company willing to offer you a good health plan, such as Humana. Humana offers insurance that can be purchased privately by independent contractors and includes the same benefits you would get if you worked for another company.

 

About Humana One Insurance

Humana One doesn’t just offer private insurance, but they offer competitive rates, guaranteed deductible and premium amounts for life, and a reputation for excellent service and outstanding insurance agents who want you to get the coverage you need and nothing more or less. Regardless of your budget, you will be able to find an insurance plan that is right for you as an independent contractor. Choose from a traditional health insurance plan with office co-pays, short term medical coverage while freelancing on a shot term basis, High Deductible Health Plan (HDHP) and in-network expenses covered 100% after paying your deductible.

 

Why Choose Humana Insurance?

Humana Insurance offers more than a good reputation and different insurance plans for independent contractor. You also get other options such as a choice of deductibles. If you want lower monthly premiums, you can agree to a higher deductible and vice versa. You also get the choice of benefits, adding or subtracting any benefits you want or those you’re not so interested in. Benefits include health, dental, life, discount prescription, and supplemental accident coverage.

 

How to Request a Quote

If you’re interested in Humana One insurance for independent contractors, they make it easy to request a quote. You can either call their 800-number and get a quote over the phone or fill out the easy online form. By going online, you will get your quote within a minute or so after filling out your information which can let you know not only if you want to pursue an insurance plan from Humana, but it will also help you decide which plan is right for you. They will go over the different plans and deductibles, such as paying a higher deductible to lower your monthly premiums, and adding dental or life insurance for your spouse and/or children. There are a variety of options available to you depending on your needs and budget.

 

Anthem Blue Cross Blue Shield Independent Contractor Insurance

 

Blue cross Blue Shield is an insurance company offering a broad range of insurance policies, including private insurance. Blue Cross Blue Shield includes a wide variety of insurance companies, including one of their primary companies; Anthem. Anthem Blue Cross Blue Shield offers group insurance plans for businesses as well as private insurance plans for anyone not eligible for their company’s group plan, and independent contractors.

 

Who Can Get Insurance?

Unfortunately Anthem Blue Cross Blue Shield insurance for independent contractors is only valid in certain states. However, if you live in Colorado, Nevada, California, Missouri, Ohio, Indiana, Kentucky, Wisconsin, New Hampshire, Maine, Virginia, Georgia or Connecticut you’re in luck. In these states, you have access to the private insurance policies that independent contractors can purchase for themselves and close family members.

 

About Anthem

Anthem Blue Cross Blue Shield has several different insurance companies in the states listed above for independent contractors. One of their major companies is called Anthem Blue Cross which is located in Thousand Oaks, California. This insurance provider alone has more than 800,000 customers and more individual policyholders (private insurance for independent contractors and freelancers) than any other insurance company. Aside from Anthem, Blue Cross and Blue Shield also owns other insurance companies offering coverage for additional states and over 170 countries in the world.

 

Why Choose Anthem?

When you’re an independent contractor and looking for private insurance, you want more than an insurance plan; you’re also choosing the provider. Blue Cross from Anthem is reputable, serving millions of people each year. With Anthem, you get access to more than 91% of the country’s providers and 96% of the hospitals who accept Blue Cross Blue Shield. This means even when you’re traveling and need emergency health care, you can go to nearly any hospital in the country and use your insurance to get the help you need. You will also get some of the best rates available for private insurance, which includes health and medical, dental, discount prescription plans, and comprehensive plans including hospital stays, major illnesses and major surgeries. You’re saving yourself thousands of dollars or more each year by choosing Anthem Blue Cross Blue Shield independent contractor insurance.

 

Tech Insurance Independent Contractor Insurance

 

Tech Insurance is an insurance company that was formed in 1997 as a way to provide insurance benefits for IT and technical professionals who work for themselves. If you are independent contractor working in the technical or IT field, you will be able to purchase health insurance from Tech insurance. They are the leading provider of insurance benefits to independent contractors working in web services, computer consulting, and similar technical fields.

 

About Tech Insurance

Tech Insurance is an insurance company that was founded in 1997 as a way to provide much needed health care benefits to people working independently as IT or technical professionals. They have become the leading online provider of independent contractor insurance for professionals in web services, IT, and computer consulting fields. They are also the leading insurance provider for more than 15,000 technology-based businesses online. The company has a reputation for low premiums and deductibles and outstanding service with 24/7 agents available to answer any questions or concerns.

 

Tech Insurance Products

A variety of insurance products are available at Tech Insurance, not just for independent contractors and freelancers in the IT or technical fields, but also for technical businesses. The full range of products include professional liability, cyber liability, general liability, hired and non-owned auto insurance, umbrella insurance, excess liability insurance, worker’s compensation or employer’s liability, fidelity bond, employee dishonesty coverage, and of course health care coverage for independent contractors. Each of their policies has a different range of minimums and maximums, premiums and deductibles. The benefit to choosing a company with so many different insurance products is that if you start as an independent contractor and utilize their health care products, you may alter on start your own business and use some of their other products at a discount, such as general liability, umbrella insurance, or worker’s compensation if you have other employees.

 

Why Choose Tech Insurance?

As an independent contractor working in the IT or computer field, you may find it difficult to pay for medical costs out-of-pocket. Not only can it be extremely expensive, but many doctors will turn you away as a cash patient and require you to go to the hospital for care. This is even more convenient and expensive. By getting health care coverage from Tech Insurance, you have access to the medical care you need, save a significant amount of money, and have the benefit of business insurance should you need it at a later date.