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Are You Self-Employed and Looking for Health and Dental Insurance?

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One of the perks of being self-employed is that you are your own boss. You make your own hours; you set your own rules. Effectively, you are the one calling the shots. Maybe you oversee several employees or perhaps just work alone, but don’t forget that everyone should have a health and dental insurance plan.

As you are effectively your own boss, you have to think about what you would want if someone else was your manager. What would you want them to provide for you? Sometimes looking at things from another perspective can help you figure out what it is that you need.

A self-employed health and dental insurance plan is one of the first things you should set up for yourself. It can help offset your out-of-pocket expenses, provide coverage that you need, and most of all, help you stay healthy.

What’s Stopping You?

It’s no secret that health and dental insurance is heavily valued by employees. Many people actually pursue work in companies that they know will provide for them. When you’re self-employed, however, there’s no one to provide for you but yourself.

Whether you are a contractor, independent professional, or entrepreneur, the onus is on you to set up your own insurance. Many self-employed people feel that they don’t have the time to set up their own insurance. Others may feel that they are in good shape and don’t need to have any treatment, therefore they opt not to get insurance. Lastly, they may assume that the premiums will exceed what they’re spending on their medical expenses.

These are not valid reasons to skip the insurance. Nobody plans to get sick or injured. Nobody plans to have tooth decay. Merriam-Webster Dictionary literally defines insurance as “a means of guaranteeing protection or safety. “It’s meant to be used in very many ways, but generally, it applies to the unexpected.

If something does happen, if you get sick or injured, you’ll wish you had purchased a plan long ago. Suppose you need expensive medication, or you break something and need medical equipment. Maybe that sensitive molar shouldn’t be ignored indefinitely. It’s not worth the risk to go without coverage, when it could mean you’ll have to pay hundreds, sometimes thousands, of dollars for your own care.

If you compare the price of an insurance plan with the accumulative price of regular dental cleanings, prescription medications, incidental medical expenses, and treatments, you’ll find that your monthly premium is a pittance in comparison.

Why You Need Health and Dental Insurance

Having health and dental insurance means you have less to worry about, financially and health-wise. You will be well prepared for normal and unexpected health and dental issues. You won’t have to empty your bank account in the event of an injury. You will have coverage for things you never thought you would need.

When you mitigate the risk of financial ruin with an insurance plan, you can put your money toward other things that you may need as a self-employed person. Additionally, if you have any employees, you can opt to have your business pay for a plan for them as well.

Offering insurance to employees, especially when you’re a small company, is a great gift to give to your staff. They will appreciate that you care about their health and well-being and will have more reason to stay with you in the long run.

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Added bonus: as an employer, you can also deduct the cost of these insurance premiums for both yourself and your employees when you file your business taxes. Speak to your accountant for details.

Choosing a Plan

The beauty of insurance is that there is a very large variety of policies to choose from. Depending on what you want to spend and what you want to include in the plan, you can find something that works for you and your staff, if you have any.

If you wish to have a plan with limited coverage and lower premiums, you can certainly find one, or you might opt for a plan with more robust coverage for most services. The best course of action is to call our office and speak with a knowledgeable representative who can walk you through the plans we offer.

We have plans through Green Shield Canada and Manulife Financial with many different levels of coverage. Our staff can give you a breakdown of each plan and how much they cost, which may depend on what province you are in. If your provincial health insurance doesn’t offer coverage for certain items or treatments, it might be in your best interest to find a plan that does.

Healthcare costs are steadily rising; it’s important to stay ahead of the curve. You may be able to manage your health and dental expenses on an “ad hoc” basis, but eventually the costs will catch up. Besides, it feels so good to know that security is there. Don’t wait until you get sick or have an illness to buy insurance. Think ahead and put a plan in place for the “just in case.”

Call Us and We’ll Help!

Call our office today and we can help you decide which plan to purchase for yourself and your staff. We can dispel any myths and answer whatever questions you may have. Sometimes a little help makes all the difference, and we’ll make sure you end up with the best-valued plan for your needs and budget.

Insurance is an affordable luxury. Everyone wants it, but they think it’s too expensive. We will show you that that’s simply not true. You can live your best life and not worry about the costs of health and dental care. That way you can focus on your business, and not worry about the “what ifs.”

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