How I Found The Best Insurance As I Embraced Self-Employment
By: Michelle Jackson
Facebook founder Mark Zuckerberg recently made headlines when he shared that he would be taking a two-month paternity leave. Whether this is a fully-paid leave or his wife Priscilla is paying him a “daddy allowance” — we may never know, but, Mr. Facebook must have health insurance that will offer some coverage.
This brings us to a nagging question — what kind of insurance covers the rest of us, non-billionaires? And it demands a careful study, especially in the case of the self-employed, to arrive at what makes the most sense.
I became self-employed in 2015 and felt some concern, nervousness, and fear about how I would be protected in case of an emergency.
I discovered solutions that would not only be helpful, but they would guide anyone who works part-time such as: caregivers, baristas, university students, or people whose job doesn’t provide benefits. And I found the answers in the most knowledgeable place in the universe, also known as the Internet.
I spent weeks thinking about where I was in my life, to whom I was accountable, and what I would I do if the worst happened. By the worst I mean: sickness, needing a root canal, or God forbid, death. It’s not comfortable to discuss, but death is part of the benefits conversation.
In a two week span, I found information on the following:
• Health Insurance — This is now part of a national mandate via the Affordable Care Act (Obamacare). Each state should have its own website where you can shop for health insurance.
• Dental Insurance — Each state is different, but I do have access to dental insurance as part of my benefits via Obamacare.
• Life Insurance — I would have some family obligations that would need to be covered in the event of my untimely and WAY too early death.
- Retirement Savings — I found that it’s relatively simple to sign up for a Roth IRA. In case you don’t know, a Roth IRA is a retirement plan that you fund with income that has already been taxed. The great thing about a Roth is that when it’s time for you to retire you can withdraw your money tax-free.
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