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Old 01-28-2014, 08:38 PM
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TML TML is offline
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Join Date: Oct 2012
Location: Southern, ME
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LCOs with family's & health insurance?

For those LCOs who consider this their primary source of income and have a wife/significant other and kids how do you provide health insurance?

1. Have enough business to pay for a policy for the family.
2. Your wife has a job and provides health insurance for the family.
3. You work a evening / off hours job basically for the benefits.
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Old 01-29-2014, 01:53 AM
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KS_Grasscutter KS_Grasscutter is online now
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Location: Hutchinson, Kansas
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Ideally when I am that position my wife will have a job to provide health insurance as well as cover most expenses, allowing my income to provide money for investing, whether in my business, my other business, or funds for retirement.
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Old 01-29-2014, 09:24 PM
32vld 32vld is offline
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Location: Long Island, NY
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As with anything in life. You can not afford it you do not buy it.
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Old 01-29-2014, 09:42 PM
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CNYScapes CNYScapes is offline
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Join Date: Mar 2003
Location: the south
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Dont quit your day job until you can afford it if it is important to you.

When I was in my late 20s I didnt bother with it. After my daughter was born and I got in to my mid 30s I signed up for it. So far in the last 7 yrs Ive had appendix out and back surgery so thats about $30k worth of work insurance paid for.

I wouldnt think about going without it at my age now if you value your credit rating as any one of us could be 1 day away from a several $100K hospital bill that would crush us financially. Thats my 2 cents.
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Old 01-30-2014, 10:56 PM
georgialawn88 georgialawn88 is offline
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Location: atlanta georgia
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I concure 100%
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Old 01-30-2014, 11:09 PM
Armsden&Son Armsden&Son is offline
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Join Date: Jan 2013
Location: adirondacks, NY
Posts: 2,360
Wow, good thoughts CNY..... I am 32 myself and have been pushing the envelope for a couple years now....

My son is going to be 4 next week so it's something that has been in the back of my mind for a while now.

My wife is in her last semester of nursing school so when she gets a job, we will be covered...

That is about 1.5 years away so fingers crossed until then....

I don't drink, don't smoke, I eat right and exercise(in the off season of course) but it's always the random stuff that we don't have control over that pops up... like appendicitis...
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Old 01-30-2014, 11:17 PM
Middle Tennessee Lawn Middle Tennessee Lawn is offline
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Join Date: Nov 2013
Location: Nashville
Posts: 220
Health care insurance is extremely affordable if you go with higher deductable and you get to write 100percent of policy cost off on taxes. You have to have health are insurance and should set up HSA account also.
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Old 02-02-2014, 04:17 PM
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4 seasons lawn&land 4 seasons lawn&land is offline
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Location: NY
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I'm turning 25 soon and my employee just turned 24 so we are both in the same situation of being off our parents' policy at age 26. We are both single too. So I need to look into some plans, be it independent plans or through my company. PITA, but important.
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Old 02-02-2014, 08:49 PM
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Cedar Lawn Care Cedar Lawn Care is online now
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Join Date: Jan 2013
Location: Utah
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I have a full-time job which gives me pretty good insurance with a pension. I only get 16.75 bucks/hour so it's not really a great source of income. I gross 34k or so. Having said that, my wife said she will never let me quit my day job to do lawn care only. Good insurance cost 1k/month. There is no pension with lawn care. There is no 401k match etc. I figure I would need to earn 15-20k more mowing than I do working my other job to even compare apples to apples. Not to get political, but Obamacare is a huge concern for business owners that needs to be considered too.
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Old 02-02-2014, 08:57 PM
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Patriot Services Patriot Services is online now
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Join Date: Jul 2006
Location: Tampa FL
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Have you been to your states marketplace for the AHCA to see what the plans are running? Its a shame that small biz owners aren't getting all the credits the lower income folks do. Another option is using a paycheck servicer that would give you access to group benefits.
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