Having the option, most persons would choose their employer provide group health insurance coverage due to its lower premium. But, if this is not a choice for you, for example, you are a self-employed, it is still vital for you to have a suitable coverage. And there's no shortage of people already running their own businesses with no health coverage at all. But, if you're dependent upon your business as your sole source of income and when you lose your health, you lose your livelihood as well. Fortunately, there are still a lot of choices for the self-employed.

Here we will tell you how to make a reasonable coverage, whatever your circumstances. We will refer to:

• the different types of policies available to self –employed
• the way you can save your money as much as possible

Spouse Coverage

If your husband or your wife has health coverage from his or her employer, which likely provides less expensive coverage than you could have individually. Therefore, you can’t wait to use it.

Group Health Insurance

The good news for the self-employed is that an increasing number of companies are offering group health plans for "groups" of one. With lower premium and timely services, it is obviously an ideal choice for the self-employed.

Individual Health Insurance

Without any pre-existing medical conditions, you are suitable for individual health insurance. (Provided you do, find a group plan that will cover a group of one.) Your condition will be a factor the insurance company considers in determining whether to accept your application or not.

Reduce the Level of Coverage

If you are generally healthy, you needn’t regular expensive prescription medications and coverage for office visits and prescriptions.

Pay the Premium annually

If possible, pay your premiums annually instead of monthly or quarterly so that you can avoid service fees and take advantage of prepayment discounts.

Move to a higher deductible.

If your family has enjoyed good health for a number of years, you may want to switch to a higher deductible of $500 or $1000. You'll notice a significant reduction in premiums.

Medical Savings Accounts

According to the Health Insurance Portability and Accountability Act (HIPAA), self-employed may be eligible to use a medical savings account( MSA),which works with higher deductible health insurance policies to reduce premiums and allow you to use pre-tax dollars to pay for your medical expenses up to the limit of the deductible on your insurance policy. If you remain healthy, by the time you reach retirement age, your MSA could well fund your retirement plan.

Self-Employed Health Insurance Deduction

Finally, the self-employed can write off 70% of their health insurance premiums in 2002. This increases to 100% in 2003. So long as the total doesn't exceed the net profit from your Schedule minus deductions for one half of the self- employment tax.