Self-Employed Individual Health Insurance

Employee Benefits, Personal Lines

If you are self-employed, meaning if you have a business that takes in income but doesn’t have any employees, you are eligible to use the Individual Health Insurance Marketplace to enroll in flexible, high quality health coverage.

M3 Elevate experts can partner with self-employed individuals to navigate the Individual Health Insurance Marketplace when selecting health coverage. Beyond the initial enrollment, M3 Elevate will work with you to assist in reporting changes/life events, documentation proof, and making premium payments. We provide clients with useful resources and timely articles, including these relevant FAQs, to navigate the complexities of the Marketplace.

Self-Employed Individuals vs. Small Business Owners

You can enroll through the Marketplace if you’re a freelancer, consultant, independent contractor, or other self-employed worker who doesn’t have any employees (general workers who typically must report W-2 forms at the end of the year).

Self-employed individuals can leverage the Individual Health Insurance Marketplace and have one-on-one consultations with M3 Elevate for curated and customized coverage based on your needs, health, lifestyle, and assets – not assumptions.

If you have employees, M3 Elevate also specializes in business insurance coverage for organizations that employ between 1 to 50 employees. M3 Elevate focuses on transforming your benefits into tools for attracting and retaining talent . We also offer protection for our growing business clients and have hundreds of policies, but only one mindset: fuel your growth.

Coverage Options for Self-Employed

The Marketplace has several categories of coverage to fit your needs. Some options have low premiums that will mainly protect you during worst-case scenarios, while others have higher monthly costs with lower out-of-pocket costs when you receive health care services. The advantage of partnering with M3 Elevate is the expert advice you receive during the plan selection to best fit your needs and lifestyle – you won’t be alone in making this important decision.

Premium Tax Credits

When you complete the Marketplace application, you will find out if you qualify for premium tax credits and additional savings on a health plan. The premium tax credits will be based on your income and household size.

Free or Low-Cost Coverage

During the Marketplace application process, you will also find out if you qualify for free or low-cost coverage through the Medicaid and CHIP programs, based on the state you reside in. Factors that affect your qualification include income and household size, in addition to a few other considerations.

Complete a quick check to see if your income falls in the range to save.

Estimate Net Self-Employed Income for Marketplace

When you fill out a Health Insurance Marketplace application, you’ll be asked to estimate your net self-employment income. Marketplace savings are based on your estimated net income for the year you’re getting coverage, not last year’s income.

Use this tool from to estimate your self-employed income. Your “profit” or net income estimate should be based on past experience, industry standards, and expectations. We understand that self-employed individuals may experience fluctuations throughout the month or year. Remember that if you take home more money than originally reported on the Marketplace application, you may have to pay back part of any premium tax credits you take.

On the other hand, if you made less than estimated on the application, you may qualify for additional savings. M3 Elevate can ensure you have proper self-employed net income estimations when you first apply, in addition to reporting changes to your self-employed net-income estimations throughout your coverage.

Key Takeaways

Self-employed individuals – such as freelancers, consultants, independent contractors, or other self-employed workers who don’t have any employees – have the opportunity to enroll in the Individual Health Insurance Marketplace. The Marketplace offers high-quality and flexible health coverage.

M3 Elevate experts can step in and help with:

  • Selecting the proper coverage to fit your needs, health, and lifestyle
  • Completing the application process
  • Reporting changes
  • Submitting proof documentation
  • Estimating net income
  • Monitoring for savings opportunities (premium tax credits, free, and low-cost coverage
  • Assisting with overall questions you may have as a self-employed individual

Reach out to Natalie Damro, M3 Elevate Account Executive, if you are interested in self-employed health coverage or have any questions about your current coverage in the Marketplace.


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