You can apply for health insurance through BeWell if you are a freelancer, independent contractor, consultant, creator or other self-employed person. You are considered self-employed if you have a business that takes in income but does not have any employees other than yourself, a spouse or a family member.
Self-employed people can apply for and enroll in health insurance coverage during the Open Enrollment Period (OEP) from November 1 – January 15. After you apply, you can find out if you are eligible for:
- Financial assistance to help pay for the cost of health insurance
- Free or low-cost coverage through Medicaid
Estimating Your Income
When you fill out a BeWell application, you will have to estimate your net self-employment income. Eligibility for financial assistance is based on your estimated net income for the year you’re getting coverage, not last year’s income.
Your net income from self-employment is what you report on Schedule C of your federal tax return. On your BeWell application:
- If your self-employment income is higher than your business expenses, you report this net income.
- If your business expenses are higher than your income, you report a net loss.
Keep these things in mind:
- If your income is hard to predict: You can apply with your best estimate of what you expect to make for the year. Your savings will be based on that estimate. If your income changes, you can update your application to adjust your coverage and savings.
When you apply for coverage, you must report income from everyone in your household, including those who don’t need coverage. When you fill out your application and select self-employment, you’ll describe the kind of work you do. There’s no special format—just describe the work.
Do your best to estimate your income. If you make more than you reported on your BeWell application, you might have to pay back some or all of the Advance Premium Tax Credits (APTC) you took during the year. If you wind up making less, you could qualify for more discounts than you claimed during the year.
Income Documentation
If you are self-employed, you may be asked to upload a self-employment ledger to verify your income. There is no standard self-employment ledger format. Your document must provide an accurate, detailed record of your self-employment income and expenses. Get information about how to report your income.
Questions? Call 833-862-3935, chat with us, or schedule a free appointment with a certified assister.
