Launching Your Private Practice without Losing Health Insurance

Let's dive into a topic that might be holding some of you back from taking the leap into entrepreneurship—health insurance. I get it, it's a valid concern, but there are solutions! Let's talk about how you can navigate this challenge and pave your way to a successful private practice without sacrificing your health coverage.

Now, I'll share my own story to show you that there are options out there for you. When I was thinking about launching my private practice, I was faced with the dilemma of losing my current job's health insurance. I opted to join my husband's insurance plan, which provided decent coverage. However, I knew that I had other avenues to explore, and so do you!

One option that I looked into was my payroll company's health insurance offerings for a solo practice. They had a basic plan that I could have switched to, and as my practice grew and I had one other full-time employee, I could access even more comprehensive plans. It's essential to ask about these options, because they may be enough to provide you with the coverage you need while establishing your practice.

I also considered COBRA coverage, although I have to admit, it can be on the pricier side. However, it's worth checking if it's available in your state and comparing the costs and benefits. Another possibility to explore is purchasing your own health insurance through your state's options (like Covered California here in sunny CA). Yes, it's an additional cost, but it's an investment in your health and peace of mind as you embark on your entrepreneurial journey.

I know that taking the leap into full self-employment can feel scary, especially when it comes to insurance coverage. Many aspiring practice owners keep a part-time job with benefits until their practice gains momentum. This approach provides a safety net while you figure out what works best for you. It's a smart strategy that gives you time to assess your needs and options, ensuring a smooth transition into your private practice.

Remember, starting your own private practice doesn't mean you have to give up on health insurance. With research and thoughtful planning, you can find the right solution for your unique situation. There's no one-size-fits-all answer here, but you have options, and it's essential to explore them to prepare well for your practice's launch and your own peace of mind.

So, don't let the fear of losing health insurance stop you from achieving your dream of running a private practice. Seek out information, weigh your options and make informed decisions. With determination and the right support, you can make your private practice a reality and launch the practice of your dreams!