Being self-employed gives you the freedom to build your business on your terms. But when you leave traditional employment, you often leave employer-sponsored health insurance behind, too.

That means choosing health coverage becomes another important business decision—and it deserves more consideration than simply finding the lowest monthly premium.

At DGP Health Advising, we help entrepreneurs and self-employed professionals understand their health insurance options so they can make informed decisions about protecting both their health and their finances.

Health Insurance Is Part of Your Financial Strategy

When you work for yourself, you are one of your business's most valuable assets. An unexpected illness, hospitalization, or medical procedure can affect more than your health. It can interrupt your income, drain savings, and disrupt your business.

The right health coverage can help reduce that financial exposure.

When comparing plans, consider more than the monthly premium. Look closely at:

• Deductibles

• Copays and coinsurance

• Maximum out-of-pocket costs

• Prescription drug coverage

• Provider networks

• Specialist access

• Emergency and hospital coverage

• Coverage when traveling

• Eligibility for premium assistance

A plan that appears inexpensive each month may become much more expensive when you actually need care.

Marketplace Coverage May Be an Option

Many self-employed individuals purchase coverage through the Affordable Care Act (ACA) Marketplace or their state's health insurance exchange.

Depending on household income and other eligibility factors, you may qualify for financial assistance that reduces the cost of coverage.

ACA-compliant plans also include important consumer protections, including coverage for essential health benefits and protections for people with pre-existing conditions.

There May Be Other Coverage Options

Marketplace coverage isn't the only possibility.

Depending on your circumstances, you may also encounter private health insurance options, employer-based coverage through a spouse, small-group coverage, or other health-benefit arrangements.

The important question isn't simply, "Which plan is cheapest?"

It's:

Which available coverage option best fits my health needs, financial situation, family, and business?

Avoid Choosing Coverage Based on Premium Alone

Imagine choosing between two plans.

Plan A has a lower monthly premium but a high deductible, limited provider network, and higher out-of-pocket exposure.

Plan B costs more each month but gives you better access to your doctors and significantly reduces what you could owe during a major medical event.

The less expensive premium doesn't automatically make Plan A the better financial decision.

Health insurance should be evaluated based on both what you pay to have the coverage and what you could potentially pay when you use it.

You Don't Have to Figure It Out Alone

Insurance terminology, eligibility rules, networks, deductibles, and plan comparisons can become overwhelming—especially when you're already running a business.

That's where an advisor can help.

DGP Health Advising provides personalized guidance designed to help entrepreneurs and self-employed professionals understand their options and make informed coverage decisions.

You worked hard to build your business.

Now make sure the person behind the business is protected.

Ready to explore your health coverage options? Contact DGP Health Advising to schedule a personalized health insurance consultation.

Insurance availability, eligibility, costs, benefits, and financial assistance vary by individual circumstances, location, carrier, and plan. DGP Health Advising does not guarantee eligibility or coverage.