There are in excess of a million locally and family owned businesses in the state of Texas. Every day, another business idea is conceived or a store is opened. If you are among these small business owners, you have probably found that a popular topic of conversation is self-employed Texas health insurance. As you conduct your searches online for the best coverage at the best possible price, you should be aware of insurance agents who are less than scrupulous and that only want you to sign up for a policy so they can get your money. The best brokers or insurance agents will serve to educate you on all your options so you have a solid basis of plans to choose from that may suit you best.

One of the most common fears faced by Texans who decide to abandon corporate America and open businesses of their own is finding affordable Texas health insurance coverage that will be sufficient when they go to utilize their coverage. The real tragedy is when a person’s medical coverage is not enough at the time they truly need it. To prevent this from happening to you as a self-employed individual, you must be willing to put a bit of time into researching your options.

Some welcome news for the self-employed individual is that in 2003, the self-employment Texas health insurance federal tax deduction was increased to the full 100% up from 70% in 2002. What this means is that whether you work as a consultant, freelance worker or are completely self-employed in another way, you can deduct all your health insurance premiums. Even if you do not itemize your deductions on your tax returns, you can still make use of this above-the-line deduction.

The most popular way to compare and contrast Texas health insurance rates is to perform online searches. It makes the whole process of viewing what different companies offer simpler because you can literally place coverage options and corresponding quotes side by side. If you are having trouble knowing what plans might be best for you, working with a broker or insurance agent is a great idea if you know where you look. Individually owned websites will ensure you do not get bombarded with solicitation calls when you have already lost interest in one company or another. Working with a trusted broker is your best bet for finding the most beneficial Texas health insurance coverage for you or your family when you are self-employed.

How to Get the Cheapest Health Care Insurance Quote in 3 Easy Steps

Insurance rates have skyrocketed in the last few years. But if you follow these 3 easy steps you can get a cheap health care insurance quote with a top company.

1. Choose the Least Expensive Plan

There are numerous individual and family health care plans available. They range from comprehensive health care plans that cover all your medical needs, to specialized plans that cover particular illnesses or situations.

The first step toward getting affordable health insurance coverage is to pick a plan that best fits your needs.

Here’s a rundown on the major plans …

Comprehensive Plans

• Fee-for-service plans - These are the traditional plans that cover all your medical needs, from doctor visits and prescription drugs to hospitalization. With these plans you pay a deductible, usually $500 to $1,000 before your insurer will start paying claims, then you pay a co-payment which is usually 20% of the medical bill. Fee-for-service plans allow you to choose your health care provider and are the most expensive plans.

• Managed health care plans – These plans – HMOs, PPOs, and POSs – also cover all your medical needs. But unlike fee-for-service plans, you’re assigned to a group of hospitals and doctors that you must use. With these plans you pay a small co-payment for each doctor visit, usually $5 to $15, and there are no deductibles to pay. Managed health care plans are the least expensive comprehensive health care plans.

Specialized Plans

If you’re in good health, consider using one of the following plans which are much cheaper than comprehensive plans:

• Hospital and surgical plans - These plans restrict your coverage to hospital expenses such as surgical costs, room and board, X-rays, and lab tests.
• Specified disease plans - These plans pay your medical expenses for a particular disease such as AIDS, heart disease, or cancer.
• Accident only plans - These plans pay for doctor visits, hospital costs, and surgical fees when you’re injured in an accident.

2. Get Quotes

Insurance rates can vary by hundreds of dollars form one company to the next. So whatever plan you choose, get quotes from different insurance companies.

The easiest way to get quotes is to visit an insurance comparison website. Here you can get quotes from a number of A-rated companies in a matter of minutes. You can then compare those quotes and choose the best plan with the best rate.

3. Get a High Deductible

If you choose a plan with a deductible, getting a high deductible can save you hundreds of dollars a month on your premium. Just make sure you have enough money in reserve to cover that deductible.

In time, the money you save on your premium will more than pay for your deductible.