Mar 01
Health Insurance as a Small Business Owner
The trend of purchasing health insurance through an employer is going the way of the dinosaurs in America. In fact, there are a million more people in the country this year without health insurance than last year. And that’s a lot for a country with only 300 million people in it.
Now that you own your own business, health insurance is a major expense. To offset this huge cost, consider group plans available through different associations. These will be cheaper for you and your employees than non-group health plans. Some associations you can look to include AEA or American Entrepreneurs Association and the IBA or Independent Business Alliance. Both of these as wells NASE, HBI, and local or state business organizations and associations offer you a wide range of choices in health insurance plans at a lower cost than if you were to go it alone.
The IRS has uncharacteristically taken pity on the self employed and allowed them to deduct up to 40 percent of the cost of health insurance premiums as well. So take advantage!
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May 1st, 2007 at 10:22 pm
Group health insurance with options provides employees with many nice benefits. The downside is that they are expensive for the employer. HMO, HSA, and PPO plans are popular with many employers.