Navigating Health Insurance Options for Freelancers and Self-Employed
Assessing Costs and Benefits
The cost of health insurance for freelancers varies significantly depending on the chosen plan, age, location, and income level. According to a report by the Kaiser Family Foundation, the average premium for a benchmark plan in 2023 was approximately $438 per month5. However, many freelancers qualify for subsidies through the ACA, which can significantly reduce monthly premiums.
When evaluating plans, freelancers should consider not only the premium costs but also deductibles, copayments, and out-of-pocket maximums. Balancing these costs against the potential benefits, such as access to preferred healthcare providers and coverage for essential services, is crucial for making an informed decision.