If You’re Self-Employed

When the Affordable Care Act was passed and went into effect, it included a requirement that everyone have health coverage that qualifies as “minimum essential coverage,” or pay an IRS penalty – this was known as the “individual mandate.”

Although the mandate was repealed, it remains in effect for 2018. The repeal is effective 2019.

“Minimum essential coverage” includes:

• Employer-sponsored major medical coverage (including COBRA and retiree coverage);
• Major medical coverage purchased in the individual market;
• Medicare Part A coverage;
• Medicaid coverage;
• Children’s Health Insurance Program (CHIP) coverage;
• Certain types of veterans health coverage; and
• TRICARE.

Visit your state’s online health insurance marketplace.

New online health insurance marketplaces offer health coverage to self-employed individuals. They include four levels of benefit packages with a range of cost and coverage levels. You and/or your spouse and dependents might also qualify for premium tax credits and cost-sharing reductions, which could help reduce the costs of purchasing insurance from these marketplaces. To find your state’s online health insurance marketplace and get coverage, visit healthcare.gov.