written by Mikel Cook, owner of MWGroupTX
If you’re a mom who’s considering an opportunity to work from home, you probably feel the exhilaration that comes with a potential change to your lifestyle. However, you may have a few concerns about other details that come with it, such as your insurance coverage needs.Continue reading to learn more about insurance alternatives for home-based businesses or stay at home moms.
Even if you currently receive employer-based insurance coverage, you can rest assured that there are some great insurance alternatives for families and home-based businesses. We’ll take a look at some good options to consider.
Consider health insurance options in the ACA Marketplace
When it comes to coverage needs, medical is usually top of the list. Not only is health insurance the most popular benefit, but it’s also the most expensive. So you’ll want to be sure to consider all of your options to find the best fit for your family.
With the Affordable Care Act, individuals and families have access to private health insurance plans through an online marketplace atHealthcare.gov. In the ACA marketplace, prospective members can compare plan options and view plan details and rates. Plus there are some potential premium credits available depending on your household income level.
One downside is that most ACA health insurance plans are subject to an annual open enrollment period that typically runs from mid-October to the end of December each year. However, you can still sign up for plans when you have a qualifying event such as loss of other coverage, birth, marriage, or divorce.
The Medi-Share program is a great alternative to health insurance
Even with good medical coverage options available through the ACA marketplace, traditional health insurance can seem out of reach for many families on a budget. Fortunately, there are some other alternatives such as the Medi-Share health program for individuals and families.
Medi-Shareis a Christian health sharing organization that administers a program where members help cover or “share” each other’s medical bills. While Medi-Share is not insurance coverage, it is structured in a similar way to other common health plans and even includes a PPO provider network.
Families can choose a household portion amount which is similar to a deductible. Then once your medical bills exceed your household amount, they become eligible for sharing through the program. With over 400,000 active members, Medi-Share shared and discounted over $1.1 billion in medical bills in 2019.
The best news is that Medi-Share is often less than half the cost of traditional health insurance coverage. Plus there is no open enrollment period, so members can apply for Medi-Share at any time during the year. Prospective members canget more information and view program costswith Medi-Share to see if it’s a good fit for your family.
It’s easy to find great dental & vision coverage for families
Once you’ve chosen your medical plan, the next most popular benefits are usually dental and vision coverage. Most moms realize the importance of dental coverage, especially for kids who love candy.
The good news is that there are many great options for dental coverage for families and individuals alike. You can choose from a variety of full coverage PPO dental plans or discount dental plans with low rates. It’s easy to check out rates and plan options with online web brokers likeEasyDentalQuotes.com.
Vision coveragecan also be added to most dental plans. While everyone may not need a vision plan, it can be a great option for families with members who wear glasses or contacts. Most vision insurance plans will include coverage for annual eye exams, as well as benefits for glasses or contact lenses.
Find the best coverage solutions to meet your family’s needs
As you can see, there are a wide variety of great individual and family plan options that can meet your coverage needs. It’s wise to do some basic research to learn more about plan options and compare them to your existing coverage. Fortunately, with online tools, it’s easy to access the information you need to make an informed decision for your family.
With a little effort, you can check the popular coverage items of medical, dental, and vision off your list. Then as you’re exploring the possibility to work from home, you don’t have to let insurance options stand in your way.
