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Self Employed- How much are youpaying for Health Insurance??

Discussion in 'Business Operations' started by cvcook, Feb 3, 2019.

  1. JFGLN

    JFGLN LawnSite Silver Member
    Messages: 2,543

    I had too much income to qualify for any subsidies. Good news is my spouse just got a position with the state. Nice insurance benefits. :)
  2. That Guy Gary

    That Guy Gary LawnSite Gold Member
    Messages: 3,944

    You only have to pay back the ATC if the wages you earn are a lot higher than what you told them you're making when you sign up.

    If you tell em you are making $30k that's what your ATC is based on. If that's what you make you're good, but if you actually make 45k and never update your income they'll be asking for some money back.

    I'm paying $216 for me and my wife this year. I'm not SE but I don't get insurance from work, I buy it from the exchange. We have an ATC much larger then that amount, they are paying the majority of our premium but I don't remember what the exact figure is.
    hort101 and Charles like this.
  3. weeze

    weeze LawnSite Fanatic
    Messages: 17,396

    well the thing is i never even go to the doctor or anything so i don't see a reason to spend all my money for health insurance. when they get rid of obamacare i'll probably just get a catastrophic plan. i never go to the doctor. i only need it for major problems or accidents.
    zraffz likes this.
  4. weeze

    weeze LawnSite Fanatic
    Messages: 17,396

    that's crazy man. i have the silver package.
  5. TPendagast

    TPendagast LawnSite Fanatic
    Messages: 17,642

    Just don’t buy it

    What’s it covering
    What you pay in health care premiums you could just self insure and put that in an account and pay the bills yourself
    weeze and That Guy Gary like this.
  6. That Guy Gary

    That Guy Gary LawnSite Gold Member
    Messages: 3,944

    Thankfully this will be an option now, isn't this the last year they are penalizing people for no insurance?

    I'm grateful for the coverage I am able to get for me and my wife through the exchange, it really has made a huge difference. We have decent insurance, being able to afford her meds and get her sleep apnea diagnosed and treated was simply not affordable prior to Obamacare.

    I'm on medication now for IBD, one generic drug that would cost over $500/mo if I had to pay cash. I don't even know what hers would cost but they'd blow mine away.

    I've always hated the individual mandate, it goes against my personal beliefs.

    I'm fed up with for profit healthcare though. The possibility of me and my wife no longer being able to afford medication if Obamacare is done away with because some corporate fat cats won't earn enough millions if prices were reasonable isn't acceptable to me.
    hort101 likes this.
  7. jbturf

    jbturf LawnSite Bronze Member
    Messages: 1,561

    Not in my case, I had my regular accountant take care of it, premium advance tax credits must be repaid or reported at tax time, for self employed folks it’s difficult , for me the first year I paid in about 1200 in quarterly taxes to state, it was pretty much a wash on income tax but I had to pay in 2000 roughly to cover the atc with my tax filing. My income was roughly the same year to year. Last year I was married when filing and had to pay for my wife’s also at tax time joint return. I’m sure it works different in different states, but the instructions come right with the tax form they send you in them mail, I didn’t like it but my accountant did it correct. It is what it is but id rather just pay full monthly than pay a lump sum back at tax time in future.
    hort101 likes this.
  8. TPendagast

    TPendagast LawnSite Fanatic
    Messages: 17,642

    No penalty THIS year

    The penalty cost WAY less than the insurance did
    You were better off paying the penalty
    Then paying for your own medical costs

    The reason insurance costs so much is because people want to win the lottery in this country

    Sue sue sue

    Germany all have healthcare for everyone
    But they’re also not
    “OMG I’ve got cancer it must be round up! I think I saw a bottle of it in a store once!”

    That’s why our insurance costs so much

    Until they pass laws against frivolous and windfall insurance scandals you won’t see affordable healthcare
    jbturf and jonthepain like this.
  9. That Guy Gary

    That Guy Gary LawnSite Gold Member
    Messages: 3,944

    How many people do you know personally who've filed what you would consider a frivolous lawsuit?
  10. EricC

    EricC LawnSite Senior Member
    Messages: 774

    I'm just here for mower advice, but healthcare costs a lot for quite a few reasons. Malpractice costs are an easy target because they involve a few rare stories and lawyers. They're easy to hate, but on the list of reasons, it's pretty far down and has been pretty constant for decades.
    hort101 and That Guy Gary like this.

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