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Self-Employed Health Insurance Facts

According to the National Association for the Self-Employed (NASE), the self-employed and micro-businesses (those with fewer than 10 employees) have grown faster than any other business type for more than 10 years as of 2010, and this trend is likely to continue given the current economic climate. Given the economic reality of a growing class of self-employed people and micro-businesses it is important to focus on providing affordable health care for this long-ignored segment of the workforce.

  1. Self-Employment Statistics

    • According to NASE, there were more than 22 million self-employed Americans as of 2010. The self-employed represent almost 78 percent of all small businesses in the U.S. As of 2007, the self-employed contribute more than $1 trillion to the overall economy.

    Health Insurance Statistics for the Self-Employed

    • One-third of the self-employed -- more than 7 million people -- have no health insurance as of 2010, with the cost being the No. 1 reason for having to do without. Furthermore, 71 percent of the self-employed have had to do without health insurance at some point in their lives, according to NASE.

    Heath Insurance Options for the Self-Employed

    • There are very few good, reasonably priced health insurance options available today for individuals. Usually, your best bet is to check out the health insurance plans available through a group you are already a member of or could join -- the Screen Actors Guild or the AARP, for example. These bigger organizations have the bargaining power to get group rates close to those of large businesses.

    2010 Health Insurance Deduction

    • Congress passed some additional health care-related legislation in September 2010, including a bill that allows the self-employed to deduct their health care costs as a business expense. This finally puts the self-employed on the same tax footing as other businesses who are allowed to deduct 100 percent of their health care expenses, but unfortunately this law is only in effect for 2010 unless Congress acts to extend it.

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