Bill Expands Healthcare Options for Self-employed

The Small Business Health Options Program, or SHOP Act (H.R. 6210), was introduced in the U.S. House of Representatives this week. The bill, if passed, offers small businesses and self-employed professionals a ray of hope for obtaining affordable healthcare. For the nation's 14 million self-employed workers, the SHOP Act would provide several much-needed benefits.

For example, the Act would allow both small businesses and the self-employed to participate in a nationwide and/or statewide pool for access to more plan options with lower health insurance prices. This pool would also provide protection against being denied benefits for pre-existing conditions or having to pay more for minor healthcare treatments. Self-employed workers will also receive a tax credit of $1,800 ($3,600 for family coverage).

For freelancers and others considering going out on their own, the cost and availability of quality healthcare options are among the most common hurdles in being self-employed. The SHOP Act could be an important step in opening the door to more people working for themselves. I'll track this proposed bill's progress through the House. Stay tuned for updates.