Accident & Sickness Insurance for the Self-Employed

Being self-employed does not mean losing the benefit of health insurance. One of the benefits of selecting personal insurance is the opportunity to shop around and find a plan that meets both coverage and budget requirements.



Accident insurance should be used as a supplement to health insurance, and offers cash benefits for most accidents. Accident insurance is relatively inexpensive and can cover all household members.

Health Insurance

• Health insurance offers a vast variety of coverage options, making it difficult for self-employed individuals to select the right plan. Plans that offer a low premium are often chosen by self-employed individuals because of the savings, but that could lead to money wasted on a policy that doesn't provide adequate coverage.

  Check with National Health Insurance Underwriters for an insurance broker who can assist with selecting the right policy. Brokers are paid commission on the policies they sell from the insurance company, and consumers do not pay for the services.

Accident Insurance

• Accident insurance may be considered an unnecessary expense, but it is inexpensive to get coverage, and since the plan can cover dependents, it can easily pay for itself. Most accidents are covered, and cash benefits are paid directly to the policyholder, not the medical provider.

Income Tax Deductions

• Group plans allow employees to pay for insurance with pre-tax dollars, but self-employed individuals also receive tax benefits.

  Up to one half of the premium cost may be deducted as an above-the-line deduction on your annual tax return. Above-the-line deductions are taken before arriving at an adjusted gross income figure.