If you are a self-employed individual who is working out of their apartment, then you need to consider what types of insurance are going to make the most sense for you. One of these that you really need to have is health insurance. You need health insurance, whether you work for a big company who provides it or if you are self-employed and working on your own. There could be a government penalty if you do not have this insurance, plus you are putting your financial future at risk if there is some kind of medical emergency that you will have to pay for out of pocket.
One of the biggest drawbacks of health insurance when you are self-employed is that you will now pay for the whole thing on your own. Most employers will pay at least part of the health insurance as an incentive to hire some of thee best employees. But when you are self-employed, you will be responsible for the costs on your own. This can be expensive, but there is some good news. You can deduct this expense during your taxes, giving you a little break on that.
A good way to save some money on your health insurance is to sign up for something known as an HDHP, which is a high-deductible health plan. Choosing a plan that has a higher deductible means that you are going to pay more for the health services before the insurance kicks in to help, but it is going to give you a lower premium each month, which can help make it more affordable as you get your business up and running.
Even better, this higher deductible plan means that you are able to sign up for a Health Savings Account, which is money that you can put away without it being taxed, saving you some money and allowing you to have some put aside if you need it for a medical emergency. Before choosing to go with any kind of health insurance policy when you are self-employed, you need to talk to an agent who will be able to assist you along the way.
Moving off-campus can be a great right of passage when you are a college student. But you need to make sure that you choose an apartment that is right for your needs. That is why you should come and check out some of our amazing Napa Valley College off-campus housing to see if it is right for you. We welcome you to take a tour, look around, and see why we have some of the best apartments in the area for your college student.
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