Being your own employer is the only way to take charge of this.
Platforms like Gusto, etc. make it so even small businesses can offer benefits and insurance like bigger companies do.
I went though various big and small employers plans, several states' exchanges, and none were nearly as good as doing the legwork to get benefits setup for my own company. Now I choose.
In some states the insurance group policy won't be available for a one person LLC, and there's no option direct from the health insurance companies, so all that remains is the state marketplace. I tried. I ended up signing up with an agency that basically put me as a W2 employee and took a fee, so I could use their so-so but better networked group insurance.
This may vary by state, but in Washington my broker tells me that a one-person LLC can work, if it elects to be taxed as a corporation so it can issue that person a W-2. Which accountants hate because of the potential extra taxes, but as she says, "my job is to get you health insurance, not reduce your taxes".
Yes, that's exactly what's it's for, also bigger companies. For smaller ones they sort of bundle you in with other small companies for the insurance, is my understanding. You may not have as many options, but they're better in the same ways an employer plan is, because they are one.
How do the costs pencil out on that, if you are signing up with Gusto etc. only for access to the health care plans? Presumably you need some minimum payroll or something?
Yes, even of you are a one person company you need to pay yourself through some sort of payroll service so that you stay compliant with all the regulations and pay things like disability, various taxes, etc. So you already need them, or similar, to handle that stuff.
The minimum payroll is defined by the minimum wage in your local area, keep in mind you can also choose how many hours you work.
Someday I'll write a blog post about it. Feel free to reach out to me, contact info is in my bio. I'll be happy to share anything you'd be interested in.
This seems like an incredibly useful piece of information to anyone who doesn't have trad employment in the US. I found on Gusto's site info about how you can write off your insurance costs if you meet certain criteria. Is the benefit this, or something else?
Yes, theyre deductable for any employer, this is no different.
Lots of benefits including this. It gives you the same power and security a employer plan does, because it is. In my experience the marketplaces and insurance from them can be a minefield needing navigation.
>Being your own employer is the only way to take charge of this.
One step further, being your own doctor when ever possible is even better. Bring out the rusty knife for surgery, a club for anesthesia etc. most surgeries are not rocket science.
Even if you had all the money in the world, the medical system is very inadequate, for a variety of reasons. If you find a doctor that is competent AND conscientious, good for you, else you have to fend for yourself. Philosophically I'm an anarchist of sorts, and I believe that doctors should not have monopoly on practicing medicine. So if you can get away with doing safe medicine, be it pills or surgery, go for it.
Assuming that you have done your homework and that you are right. ( a lot of especially young people think that things are magical now, while IMO some things have regressed) .
>We just need to make sure it doesn't bankrupt us to get it.
Why shouldn't a motivated/intelligent layman try and get hold of those devices and learn them? Yes things can go wrong, but what _real_ suggestions you have for people to get procedures done, safely AND reasonably priced?
Things have not regressed. Have you driven in a modern car? Flown in a modern plane?
"Why shouldn't a motivated/intelligent layman try and get hold of those devices and learn them?"
Why don you buy a typewriter and write Shakespeare?
You really just assume that you, untrained and unexperienced would be better than a trained professional? You would really cut open your partner or child, cut out a section of their bowels, sew them back together, and know all the right drugs to give and have the half million dollar anesthesia machine? Do you have the MRI machine you need to diagnose this?
It's the same reason we don't just let anyone work on airliners.
Someone who thinks they can do this is dangerous, and borderline psychopath. I'd encourage them to watch one live surgury first. Saying you can fo something like this without even seeing it once is why this shows too much unfounded confidence. Yikes.
Platforms like Gusto, etc. make it so even small businesses can offer benefits and insurance like bigger companies do.
I went though various big and small employers plans, several states' exchanges, and none were nearly as good as doing the legwork to get benefits setup for my own company. Now I choose.