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  • Writer's pictureGalia Gichon

Freelancers and Health Insurance

Updated: Jul 17, 2019

If you have ever worked for a corporation, you know that an amazing benefit is the Flex Spending Account. It lets you pay for medical expenses not covered by your health insurance or before your deductible with BEFORE-TAX dollars. That can be a savings of 40%! While you may not see the discount immediately, at the end of the year, it shows up.

As a freelancer or business owner, getting affordable health insurance is an issue onto itself. But finding a flex-spending program has been very difficult. Since I work with so many business owners, I was excited to learn about HSA bank.

HSA are health savings accounts where the money grows, tax deferred and tax free, to pay for medical expenses. You must have a health insurance plan with a high deductible to qualify. It might only work for some of you but definitely check it out. Besides the obvious benefits, co-pays, prescriptions, it also covers Acupuncture, Chiropractor, Dental Treatment, Eyeglasses, Eye Surgery, Fertility Enhancement, Hearing Aids, Long-Term Care, Psychologist and Stop-Smoking Programs. Plus, if you don’t use the money before year-end – you DON’T LOSE it. With traditional flex spending programs, you do. If you are self-employed, a business owner or a freelancer, you can’t afford NOT to check it out.

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