Having health insurance is indeed an important issue in ‘going solo’. I have insurance through my husband. I did not go into full time fitness until I had that in place.
However, I had started to move myself into a place where I could work fully on my own, before I had that option available to me. I kept my full time job (which was federal) but did graduate school at night to increase my skills and marketability, and worked 6 am slots, 7 pm slots, and every weekend, to increase my connections and experience. I also read and studied as much as I could.
You could also take a look at what job possibilities in fitness exist that include health insurance. I don’t know that market well in your area at this time. I do know there are some in my area that do, if one is full time.
You might also take a look at this if you have not yet done so:
I’m in California and was on COBRA from my last job for a year or so and it was expensive! Almost $400/mo as a 40 year old woman. I signed up for healthcare through Covered California (CA version of the health benefit exchange) and it was much lower. Subsidies are available on a sliding scale depending on your income and since I was starting my business in earnest last year, my tax return for 2014 reflects a particularly low income. I’m sure I’ll have to pay more in the future as my business grows, but for now, the subsidy is nice.
You can try COBRA, but it doesn’t last for ever. I’m not sure what your situation is, but dropping a job that provides you with health insurance might not be the best option. Unless you can get insurance through a different way (husband, other work, COBRA or qualify for one by yourself)you might want to reconsider. With Obamacare you could qualify for a good plan, so you should look into it. Good luck to you either way.
I have health insurance through my husband’s previous employer (he is retired now).
I am not sure I would have ventured into the business of personal training without that as a backdrop. Because of my personal situation, I have not needed to investigate the ACA but that seems to be a good place to start.
You have to look at health insurance as part of the cost as doing business as a trainer, and it’s not cheap. I pay $1400/mo. for 3 of us. I would only ditch my day job & lose my insurance if it made the financial sense to do so. Let’s say the expense is $500/mo. – $6k/year pre-tax dollars. That’s a lot of workouts just to make up for that. But at some point, it may make sense to go out on your own once you get your training business built up. Then you can make the switch without becoming financially strapped. Good luck with your decision Kathleen.