Obamacarecare Answers - Help for Affordable Care Marketplace decisions

Affordable Self Employed Health Insurance

Affordable Self Employed Health Insurance

Affordable Self Employed Health Insurance for Business owners and Contractors.

In Missouri call 314-822-1422 for assistance with enrollment and plan selection options for Affordable Self Employed Health Insurance. Click Here for Enrollment Support & to calculate your Tax Subsidy.

If you’re self-employed you can use the individual Health Insurance Marketplace to enroll in flexible, high-quality health coverage. This works well for people who run their own businesses and need Affordable Self Employed Health Insurance coverage.

You can enroll through the Marketplace if you’re a freelancer, consultant, or independent contractor that needs Affordable Self Employed Health Insurance. Additionally other self-employed workers who do not have any employees can enroll in an Affordable Self Employed Health Insurance plan .

  • When you fill out a Marketplace application, you’ll find out if you qualify for premium tax credits and other savings on an Affordable Self Employed Health Insurance plan. This will be based on your income and household size.
  • You’ll also find out if you qualify for free or low-cost coverage. Plans may be through the Medicaid and CHIP programs in your state. This will depend on your income, household size, and other factors affecting your Affordable Self Employed Health Insurance .

You can choose from several categories of coverage and from plans with low premiums. Compare plans that considered Affordable Self Employed Health plans mainly to protect you in worst-case scenarios to plans where you will pay more each month but have less out-of-pocket when you get health care services.

Marketplace coverage for the self-employed who need Affordable Self Employed Health Insurance plans.

In Missouri call 314-822-1422 for assistance with enrollment and plan selection options for Affordable Self Employed Health Insurance.  Click Here for Enrollment Support & to calculate your Tax Subsidy.

You’re considered self-employed if you have a business that takes in income but doesn’t have any employees. If your business has even one employee (other than yourself, a spouse, family member, or owner), you may be able to use the SHOP Marketplace for small businesses. That may assist in offering coverage to your employees. See “How do I know if I’m self-employed or a small employer?” to learn more.

Self-employment income and Marketplace savings for Affordable Self Employed Health Insurance.

Marketplace savings are based on your estimated income for the year you’re getting coverage and need an Affordable Self Employed Health Insurance plan.

In Missouri call 314-822-1422 for assistance with enrollment and plan selection options for Affordable Self Employed Health Insurance.  Click Here for Enrollment Support & to calculate your Tax Subsidy.

Projecting your income

When you fill out a Marketplace application, you’ll have to estimate your net income for the year that you want coverage. (See “Reporting net income” below to understand what income to report.)

When you’re self-employed, it may be hard to estimate your income.

  • Do your best to estimate your self-employment income and expenses for the year accurately. This is based on your past experience, realistic expectations, industry standards, and other information will help you qualify for Affordable Self Employed Health Insurance plans.
  • During the current year, if it looks like your yearly income will be higher or lower than you estimated on your Affordable Self Employed Health Insurance application, update your Marketplace application as soon as possible.

Very Important: Update your estimated annual income when your business circumstances change. If you wind up making more than you reported on your Marketplace application, you could have to pay back some or all of the premium tax credits related to your Affordable Self Employed Health Insurance plan that you took during the year. If you wind up making less, you could qualify for more savings on your Affordable Self Employed Health Insurance plan than you claimed during the year.

Reporting net income

On your Marketplace application, you’ll be asked to report your net income from your self-employment. (Net income is sometimes called “profit” and required to qualify for Affordable Self Employed Health Insurance.)

Your net income is the difference between your self-employment income and your business expenses.

  • If your self-employment income is higher than your business expenses, you report this net income in order to qualify for Affordable Self Employed Health Insurance.
  • If your business expenses are higher than your income, you report a net loss.

Your net income from self-employment is what you report on Schedule C of your federal tax return to qualify for Affordable Self Employed Health Insurance. Learn about income from self-employment from the IRS (PDF).

Other kinds of income

When you apply for Marketplace coverage for Affordable Self Employed Health Insurance, you must report income from everyone in your household. Learn who to count in your household and how to report other kinds of income.

If you don’t have coverage, you’ll pay a penalty

Most Americans must have minimum essential coverage or pay a penalty. This is true no matter what your job status is.

In Missouri call 314-822-1422 for assistance with enrollment and plan selection options for Affordable Self Employed Health Insurance.  Click Here for Enrollment Support & to calculate your Tax Subsidy.