How can I get health insurance for myself and family and pay for it as business expense without employees?
I’m a successful part time entrepreneur in California, but I maintain my day job because of the group health insurance they offer. I’d like to cut the apron string and go out completely on my own, but the insurance situation holds these plans hostage.
I don’t want to buy private health insurance, I would like to structure my one man business so that I can easily purchase group health insurance for myself and family. I’d like to purchase group insurance as opposed to private insurance so that I don’t have to deal with preexisting conditions and riders, etc. Since I’m still a sole proprietor, I have plenty of leeway in regards to business structure, and I’m willing to change whatever is necessary to get the best deal possible.
How can I get health insurance for myself and family and pay for it as business expense without employees?
August 12th, 2010 at 5:12 am
you can’t legally.
August 12th, 2010 at 5:21 am
First you need to find an insurance company that will sell you group insurance. I don’t think it’s going to be possible because of the fact you have no employees.
Companies are not going to be interesting in providing group plans (with them giving a group discount) without a group for economies of scale.
If you have a large family that is of employable age you MIGHT be able to employee them and have them covered.. BUT you’re going to be paying for it like they were all separate families.. not in a covered policy of your own.
I would be surprised if you could get this to work. I’ve heard TV commercials for small business insurance plans.. might want to google that.
August 12th, 2010 at 5:41 am
In order to get group coverage you must have a minimum of four employees and have 75% participation to qualify.
August 12th, 2010 at 5:46 am
Every states has different guide line for the group insurance. I suggest to check this
http://www.insureme.com/landing.aspx?Refby=614138&Type=health
you will be contacted by the licensed agents who can help your question. It is free!