How does healthcare reform affect the self-employed?
The self-employed will have more affordable coverage options and may qualify for individual tax credits on a sliding scale, based on income. Also, there are exceptions for the individual requirement penalty. Information on how specific provisions apply to the self-employed follows. Temporary risk pool Immediate coverage will be available through a temporary state-based risk pool as described for those with preexisting conditions who been uninsured for 6 months. As described under “risk pools” there will be limits on premiums, cost-sharing will be capped and premium subsidies will be available to those eligible based on income. Health insurance exchange Individuals will be able to purchase coverage through the state’s health insurance exchange beginning in 2014. There will be four standardized benefit packages that differ by the percentage of costs the health plan covers, set at 60%, 70%, 80% or 90%. Under the exchange, plans must accept all applicants; there are limits on out-of-pocket
