Freelancers' Secret Weapon Affordable Health Insurance Found

Short-Term Health Insurance: A Temporary Solution

For those seeking immediate coverage, short-term health insurance plans offer a temporary solution. These plans are typically less expensive than traditional ones and provide coverage for unexpected illnesses or accidents. However, they usually come with limitations, such as not covering pre-existing conditions or preventive care². Freelancers should carefully evaluate the terms and conditions before opting for short-term plans.

Health Savings Accounts (HSAs): A Tax-Advantaged Option

Another strategic option for freelancers is the Health Savings Account (HSA). HSAs allow individuals to save money tax-free for medical expenses, provided they are enrolled in a high-deductible health plan (HDHP). Contributions to an HSA can be used to pay for qualified medical expenses, giving freelancers a way to manage healthcare costs effectively while enjoying tax benefits³.