If you are a self employed or wishing to start your own business than you must understand Self Employed Health Insurance schemes. Apart from other plan there are basically three important plans. These are:

1. Individual Health Plan: This is the costliest plan and select only when you have no other options or resources.
2. Wife covered health plan: If your wife is working and she has the Heath insurance from her employer than don’t hesitate to use it to cover whole family since it may be subsidized one and you will get much cheaper premium than your individual health plan.
3. Group Health plan: Recently there are many Insurance companies that offer Health Insurance to group with only one member. .Even though the conditions and premiums varies considerably from state to state. The premium is moderate.

Government not only help the employed one who has the group heath insurance by way of subsidies but also help Self Employed one by allowing to deduct the cost of Health Insurance from their profit.

Self Employed Health Insurance deduction

In the year 2002 federal government allowed self employed to write off 70% of the premium amount of Self Employed Health Insurance. But in the year 2003 federal government increase this limit to 100 % that is now self employed can write off full amount of premium of their Self Employed Health Insurance. Of course there are other conditions laid down which has to be observed in order to write off the whole amount of health insurance for self employed.

It is always worth while to understand and know many options and plans of Self Employed Health Insurance. It is time consuming and tedious but in the end it pays you handsomely. What ever plan or options you are selecting for Self Employed Health Insurance, but are sure that you are insured with the health insurance even though in the starting it looks like a luxury. As a self employed you are the most valuable asset for your business so it is your duty to protect yourself.