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Self-employed business owners and health insurance

People who are self employed can now buy small-group health insurance (group of one). 

How to qualify

• You need to be in business for at least one year.
• In the previous tax year, at least 75 percent of your income must have come from your business. To prove this, you'll need to give the insurance company a copy of your IRS Form 1040(C) or (F).

Advantages of small-group health insurance

• Insurance companies can't consider your health status when you apply for small-group health insurance.
• You can add a child to your plan outside of the child open-enrollment periods.

Disadvantage of small-group health insurance

If your business income falls below 75 percent in a tax year, you'll no longer qualify for small-group insurance and the insurer can cancel your plan at the next renewal.

How to find a plan

See a list of small group plans in your area.

Updated 05/10/2012