Buying Medical Insurance When You are Homebased

There are countless jobs you can do that are homebased, but even though you may be an employee a lot of jobs may not offer you medical insurance. A lot of the time employers hire homebased employees to save on their overhead costs. This can save your employer a lot of money and also give you the benefit of working at home. Unfortunately, when you work from home you are not always eligible for the same benefits as in house employees are.

 

No matter who you are or why you work from home, medical insurance is important. There are options for people whose work is homebased though. Most medical insurance companies have individual plans as well and group plans employers offer. Some plans can be expensive though and in order to make sure you are getting the best coverage for the money you are paying you need to understand the basics of medical insurance.

 

Individual plans for those who are homebased are very similar to those that you would normally have through your employer. There are co-pay plans available and also health plans with a maximum deductible.

 

Deductible plans are pretty simple to understand. You have a per person deductible as well as a maximum yearly deductible. A deductible is your out of pocket expense. This means it's what you have to pay out before the insurance pays out. If you have a $10,000 maximum deductible and a $5000 per person deductible, this means that for any one person you will have to pay a total of $5000 for medical procedures per year before the insurance will kick in and pay for anything. You would have a $10,000 maximum deductible meaning that if you have a larger amount of people in your family you wouldn't have to reach $5000 for it one, once you reach the $10,000 deductible for the entire family the medical insurance would kick in.

 

The majority of people want co-pay plans, this is the same whether you are homebased or employed outside the home. A co-pay plan means that when you go to the doctor you pay whatever your co-pay is in the office and the insurance covers the rest. This type of plan usually works best for those with small children who may need to go to the doctor more often. The co-pay plans for individuals normally carry a deductible for hospital expenses. This means that if for whatever reason you or someone in your family needs to go to the hospital, you would need to satisfy the deductible before the insurance pays out.

 

You should choose the type of plan that works best for you and your family. Being homebased doesn't mean that you shouldn't have insurance. It only means that instead of paying for it out of your paycheck you would pay a monthly bill. You may actually be surprised at how cheap you can get a health care plan, especially if your family has no type of prior medical conditions.