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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 li

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.

pcl 2y ago
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?
- iancmceachern 2y ago
  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.
  - le-mark 2y ago
    This sounds like one hell of a hack! Can you go into a bit more detail about how you have it set up?
    - iancmceachern 2y ago
      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.
      - the__alchemist 2y ago
        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?
        iancmceachern 2y ago
        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.
mancerayder 2y ago
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. Is Gusto for stuff like that? Single member LLCs?
- iancmceachern 2y ago
  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.
- wrs 2y ago
  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".
  - iancmceachern 2y ago
    That's for a C Corp, check out S Corps. I disagree, I think it's there job to help you reduce your taxes, if they're able to do so legally. I'd look for accountants who think so too.
dennis_jeeves2 2y ago
>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.
- iancmceachern 2y ago
  I'm trying to figure this comment out. What point are you trying to make?
  - dennis_jeeves2 2y ago
    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.
    - iancmceachern 2y ago
      I've been designing medical devices , complicated ones like surgical robots and artificial hearts. Trust me, you want modern medicine, the kind that comes from factories and hospitals. Not what you can cook up in your backyard. Modern medicine is truly magical, don't let anyone tell you otherwise. We just need to make sure it doesn't bankrupt us to get it.
      - dennis_jeeves2 2y ago
        >Modern medicine is truly magical, 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?

pcl 2y ago

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?

iancmceachern 2y ago
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.
- le-mark 2y ago
  This sounds like one hell of a hack! Can you go into a bit more detail about how you have it set up?
  - iancmceachern 2y ago
    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.
    - the__alchemist 2y ago
      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?
      - iancmceachern 2y ago
        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.

mancerayder 2y ago

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. Is Gusto for stuff like that? Single member LLCs?

iancmceachern 2y ago
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.
wrs 2y ago
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".
- iancmceachern 2y ago
  That's for a C Corp, check out S Corps. I disagree, I think it's there job to help you reduce your taxes, if they're able to do so legally. I'd look for accountants who think so too.

dennis_jeeves2 2y ago

>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.

iancmceachern 2y ago
I'm trying to figure this comment out. What point are you trying to make?
- dennis_jeeves2 2y ago
  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.
  - iancmceachern 2y ago
    I've been designing medical devices , complicated ones like surgical robots and artificial hearts. Trust me, you want modern medicine, the kind that comes from factories and hospitals. Not what you can cook up in your backyard. Modern medicine is truly magical, don't let anyone tell you otherwise. We just need to make sure it doesn't bankrupt us to get it.
    - dennis_jeeves2 2y ago
      >Modern medicine is truly magical, 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?