Insurance options for freelancers

Life as a freelancer offers freedom and flexibility that many self-employed people enjoy. However, freelancers do not typically get benefits like health insurance from employers. If you’re working for yourself or looking to make a career shift, you can learn how to get freelancer insurance.

Each type of insurance for freelancers offers its own benefits and considerations. To find the right health insurance for you as a freelancer, consider what you may qualify for, how often you use your insurance and your monthly budget.

If you qualify for either of these programs, you can significantly reduce your healthcare costs. Companies like UnitedHealthcare partner with the government to provide access to these programs.

The Affordable Care Act (ACA) provides a health insurance marketplace from which Americans can purchase health insurance. You may see these health insurance options for freelancers called on-exchange, ACA or marketplace plans.

Depending on your income and household size, the ACA may also offer a tax credit or cost sharing reduction (CSR). These programs reduce your monthly premium for your health insurance. You can purchase an ACA plan directly through insurance companies like

UnitedHealthcare and still get access to your tax credits and CSR. These subsidies may make marketplace plans a great option for insurance for freelancers.

All plans offered through the marketplace must meet certain coverage standards. Every plan must cover Essential Health Benefits, which are ten categories of care that include hospitalization, emergency care, mental health, prescriptions and more.

Typically, you can only enroll in marketplace plans during open enrollment, which is between November 1 and December 15 in most states. However, if you have a Qualifying Life Event (QLE), you may enroll within 30 days of that event. Some examples of WLEs include the loss of other health insurance coverage, marriage and the birth or adoption of a child.

If you do not qualify for an ACA subsidy, you may consider buying a health insurance plan directly through a company like UnitedHealthcare. Off-exchange plans offers the same coverage as marketplace plans. However, there are no subsidies for these plans.

Shopping off the marketplace, or health insurance exchange, gives you more options when looking for your freelancer insurance.

Short term health insurance is a type of private insurance that can last from one month to nearly three years in some states.³ Short Term Medical insurance offers up to one year of coverage (less one day), depending on the state. TriTerm Medical insurance is a type of short term health coverage that is available in some states and allows you to stay on the same plan for nearly three years. These may be great options for someone who is freelancing temporarily or may get insurance another way soon.

Short term health insurance plans offer coverage quickly, sometimes as soon as the next day. You can choose from many options and select the plan that best matches your needs. For example, freelancers in great health who rarely use insurance may opt for a high-deductible plan with a low monthly premium. At UnitedHealthcare, short term health plans also offer freelancers access to a large network of providers.

UnitedHealthcare offers both traditional dental plans and non-insurance dental memberships, giving you flexibility in choosing your dental coverage.

Like dental care, most health insurance does not cover vision care. As a freelancer, you can purchase vision insurance underwritten by Golden Rule Insurance Company directly from UnitedHealthcare.

Vision insurance can help cover the cost of routine eye exams, glasses and contact lenses.

When deciding on what plans you need as a freelancer, it’s important to consider supplemental options as well. Choosing supplemental plans can help provide an additional layer of coverage.

Term life insurance can help your family financially in the event of your death. If you pass away during the term of the policy, the beneficiaries that you select receive a lump sum of money. This payment can help them take care of your funeral costs, their living expenses and more.

You can also add critical illness coverage to these plans. This optional coverage means that if you are diagnosed with a covered illness during your term, you receive a lump sum. You can use this money as you wish, including for living expenses.

Golden Rule Insurance Company underwrites term life insurance policies for UnitedHealthcare. You can find a variety of plan options to fit your needs.

Even with comprehensive health insurance, a major accident can be expensive. You may be out of work, which can be particularly difficult for freelancers who do not have paid time off. You also need to cover copays and deductibles, as needed.

Accident insurance provides cash benefits to help pay for expenses related to a qualifying accident. You can use this money to make up for lost wages, pay for physical therapy or anything else you need.

Similar to accident insurance, critical illness insurance pays you or your provider a lump sum if you are diagnosed with any of the covered illnesses. These plans can cover illnesses including, but not limited to, Alzheimer’s disease, cancer, heart attack, stroke and renal failure.

Often, freelancers can’t work when battling a critical illness. This coverage can help you pay for living expenses and more in the case of such a diagnosis.

When you’re self-employed, you have many insurance options. Be sure to consider all your options before deciding on your health insurance plan.

Then, add dental, vision and other supplemental plans as needed. As with health insurance, the supplemental plans you need depend on your lifestyle and risk tolerance.