If you are self-employed in Wisconsin, you can buy private medical insurance from a health insurance company or from the Health Insurance Marketplace.
- How is “self-employed” defined? The Affordable Care Act (ACA) defines self-employed as “running a business that generates income but has no employees. Even if you use independent contractors, you are considered to be self-employed. If you are a sole proprietor, independent contractor, a partnership that is involved in a trade or business, or you have a part-time business, you may be considered to be self-employed”
- According to the IRS website, anyone who performs services for you is your employee if you can control what will be done and how it will be done. Basically, if you control the details of how the services are performed, the person is an employee
How do Self Employed People Get Private Insurance?
If you are self-employed, you may get private medical insurance by working directly with an insurance company, with a broker, or on the healthcare.gov website. Self-employed people, like most others, need to enroll during open enrollment (November 1, 2017 through December 15, 2017).
Another point to remember is that any medical insurance that is purchased directly from an insurance company or broker must be an “ACA-compliant plan”. This means that it covers the ten essential health benefits required by the Affordable Care Act (ACA). It may be possible to purchase a plan that does not meet the ACA requirements, so make sure you buy an ACA-compliant plan or you may face a fee.
THOSE WHO ARE SELF EMPLOYED MAY BE ELIGIBLE FOR MEDICAL INSURANCE SUBSIDIES
Those applying for medical insurance through the Health Insurance Marketplace may also receive subsidies based on their expected 2016 incomes. Through the application process, self-employed people may find they are eligible for coverage through BadgerCare Plus, depending on income levels and other requirements.
If you are self-employed and have questions about private medical insurance in Wisconsin, Get A Quote from Unity. All of our plans are ACA-compliant and the quote process will determine whether you are eligible for subsidies. If you want to talk directly to a knowledgeable customer service representative who understands your unique situation, call 608.644.3430, 7 a.m. – 7 p.m., Monday through Friday.