As the world becomes more globalised and the workforce becomes more mobile, self-employment continues to grow in popularity. Working for yourself is fun because it allows you to be in control of your own schedule and concentrate on your true passions. On the other hand, it does not come with something like many workers of a corporation get: health benefits. This is why getting health insurance as a self-employed worker is essential to have.
As the name suggests, self-employed health insurance is health insurance designed specifically for freelancers or self-employed workers. With self-employed health insurance, you can have full control over the kinds of coverages you want to be. If anything happens to you, whether it’s an accident or a severe disease, you’ll have peace of mind knowing that your coverage will protect you even if you cannot work. You have the option of choosing a plan that promises renewability up to a certain age or even lifetime renewability.
Although injuries and sickness are unavoidable, you should still plan for the financial consequences. Below are two of the most common insurance policies on the market right now, with rates and benefits to match.
This is a form of insurance designed to cover your whole family in a single policy. The program covers a broad range of benefits for your entire family, including medical costs, hospitalisation, and other medical expenses. It can also be customised to meet the needs of your family.
This is a form of health insurance designed for smokers who may need compensation for potential medical care and medical expense coverages, the amount of coverage in this form of policy is determined by how much a person smokes, which significantly impacts the premiums.
It’s important that you keep yourself safe and protected in times of emergencies, especially if you are in a foreign land. The Thaiger will help you in selecting the best premiums on self-employed health insurance in the local market so you can have a worry-free time in the Land of Smiles.
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Selecting self-employed health insurance can be overwhelming since there are many insurance companies and plans to choose from. You can consider the following factors to determine which plans match your personal needs best.
Choose a plan that provides all the benefits you need. Make sure the plan offers you access to personalised treatment from doctors and hospitals at any time, no matter where you are.
Consider which plans fall within your budget regarding premium, deductible, coinsurance, and co-payments. If your primary requirement is a low monthly premium, then consider a high deductible plan.
Do you have a favourite hospital or doctor in Thailand you want to keep? Find out which plans your doctor or hospital accepts. Let the Thaiger’s team know who your favourite doctor or which one your preferred hospital is so we can help find the health insurance they accept.
Annual Check-Ups and Preventative Care Coverage
Preventative care, such as annual screenings and exams, can find diseases early, helping you stay healthy. Therefore, make sure that your plan covers these.
Prescription Drug Coverage
Not all self-employed health insurance cover all drugs. The coverage can vary from one plan to another. You have to read which prescription drugs are covered in the plan before you purchase them.
There is typically no difference between health insurance for self-employed and employed individuals. However, there are a few things you need to be aware of before purchasing self-employed health insurance.
No Cover for Sick Days
There is usually no financial benefit for primary care unless you get the most expensive plans. While you can visit the doctor if you are sick with the flu for a few days, most self-employed health insurance policies may not pay you for the costs. As a result, self-employed people need to have a rainy-day fund to help them weather the storm.
The Cost of Treatment May be Capped
Certain types of treatment are capped in the self-employed health insurance policy wording. For example, expensive heart and cancer treatment may not be fully covered since they usually come with a limit.
Some disabilities, such as becoming deaf, loss of vision, and disorders, are classified as standard exclusions in policy wordings, which may be necessary to you if your line of work is vulnerable to certain illnesses. Exclusions may also include accident and emergency care, HIV or AIDS treatment, and cosmetic treatment.
Chronic Conditions Covers Are Limited
When an illness progresses to the ‘chronic’ stage, where it becomes a lifelong part of your health, insurers are less likely to cover regular monitoring and maintenance costs. For self-employed individuals who are at risk of specific illnesses due to their line of work, this can be a concern.