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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
by 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 agoYes, 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 agoThis 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 agoThat'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.