The self-employed live by and for their business, but what happens if they get sick? Or if they have an accident? If you are self-employed, you have to read our article on essential insurance for the self-employed; it will help you protect yourself against any unforeseen event ...
Without a doubt, and despite the fact that we all must bear in mind the importance of good Health insurance, the self-employed have to think very seriously about taking out private health insurance, because if they fall ill and cannot work, they will not generate income.
In this way, and thanks to private health insurance, the self-employed worker will be able to breathe easily, since the worker himself, his business and his family will be protected.
Furthermore, although the Spanish Public Health System is of high quality, the truth is that sometimes the waiting lists can be months long, which is why private health insurance is a great option to avoid tedious waiting lists, something vital for self-employed entrepreneurs.
Taking out a good health insurance policy is of great importance, which is why it is necessary to have professionals in the sector who can offer us the best insurance policy for us according to our needs.
This is what we can offer you from Euroteide Insurance, as we are professionals in the sector with more than 22 years of experience in the Canary Islands and we have more than 3000 satisfied clients with their health insurance policies and the service provided by us when dealing with any incident related to their health insurance.
What is health insurance for the self-employed?
The Health insurance for the self-employed is an insurance policy that allows the self-employed person, in addition to making use of private medical services that have been arranged with the insurance company, obtain compensation for the days on which they have to suspend their professional activity due to illness.
In any case, health insurance for self-employed is very similar to that of Health insurance for individuals, while is true that it includes certain specific coverages, so that health insurance for self-employed guarantees the protection of the self-employed worker facing some situations that a private person does not need.
Health insurance for the self-employed is undoubtedly a good way to protect the business and to ensure that a health problem, especially one that lasts for a long time, that forces the self-employed to interrupt their work activity does not lead to significant losses that lead to the closure of the business or the definitive suspension of the self-employed worker's professional activity.
What basic coverage does Health Insurance for Self-Employed offer?
As we have already said, a Health insurance for the self-employed is very similar to health insurance for individuals, although it is true that it will also include some specific coverage.
Even so, the coverages will depend on the specific policy and what would have been contracted with the Insurance company, although the most common coverages are the following:
- Primary health care.
- Rehabilitation and physical therapy.
- Medical specialties.
- Preventive medicine.
- Psychotherapy, normally 20 sessions a year. However, 40 psychotherapy sessions per year for eating disorders will be covered by the insurance policy.
- 24 hour emergency.
- Second medical opinion.
- Podiatry, normally between 10 and 15 sessions a year.
- Childbirth and postpartum.
- Prosthesis and implants.
- Travel assistance. However, this coverage will depend on the duration of the trip and there will also be a maximum insured capital, so that once that amount has been reached, it will be the self-employed person who will have to face the payment of those expenses.
- Health care in case of traffic or work accidents.
- Compensation in the event of death to defray death expenses.
- Support service in household chores, in childcare and home delivery of correspondence and medications in case of hospitalization or temporary disability.
How does health insurance for self-employed work?
As is evident, there are many types health insurance for self-employed with different prices and coverage, so the ideal is to take out the policy that best suits the specific needs of each self-employed worker with the necessary advice.
Thus, analyse which are the specific health needs and the budget that each one has when taking out health insurance for the self-employed.
However, as with any Insurance, it is best to take out a policy that is well suited to the needs of the self-employed and not the cheapest policy. In any case, there are many insurance companies that have many special offers for self-employed workers and small and medium-sized companies.
There are different types of Health Insurance for Self-Employed. The most common are the following:
- Co-payment: In this case, the worker will have to pay a small amount for each medical service they use. This type of health insurance is cheaper, since the insured faces the payment of part of the medical expense.
- Franchises: In this case, as in the previous one, the insured also faces the payment of part of the health care. However, in this case, the insured will obtain a monthly discount on the premium of their policy.
- Medical chart with reimbursement: In this case, the employee may choose any doctor or clinic, but must pay for the service out of pocket. He/she must then submit the bill to his/her insurance company, which will reimburse him/her between 70 and 100 % of the cost, depending on the policy.
- Complete medical insurance: In this case, the insured may make use of the doctors and clinics that belong to the medical chart, without restrictions. However, there will be restrictions in certain specialties such as podiatry or psychology sessions.
Does Health Insurance for Self-Employed have a tax advantage?
Health insurance for Self-employed has certain tax benefits that can be very interesting. Thus, the Health insurance is a deductible expense for self-employed workers.
Also, according to the law, this expense will be applicable to both the insured and his spouse's quota, as well as to children under 25 who live with the insured.
This deduction will be discounted from the income generated by the self-employed, and may reach a maximum of 30% of the same. In any case, the maximum deduction in personal income tax for health insurance will be 500 euros per year or 1500 per year in the case of people with disabilities.
Undoubtedly, the Health insurance for Self-employed is great protection for self-employed workers.
However, it would be best to contract with experienced industry professionals, such as Euroteide Insurance . We are a specialist and will be happy to advise you and help you find the best solution in health insurance for you, without commitment we promise to be by your side always when solving any problem. Yes, by your side when you need us most.