Re: Contracting and Health Insurance

Subject: Re: Contracting and Health Insurance
From: "Bryan Sherman" <bsherm -at- gmail -dot- com>
To: "beth -dot- tripp -at- verizon -dot- net" <beth -dot- tripp -at- verizon -dot- net>
Date: Fri, 26 Jan 2007 12:20:00 -0800

If you are going to go it alone hire an accountant and a lawyer. Have them
advise you on the form of your company. My lawyer recommended LLC (easier)
my accountant s-corp (saves money). Accountant won. :-) I pay my accountant
considerably more now, but save multiples of that in taxes.

The ideal answer for you depends on your situation, get professionals to
advise you (kind of like telling the client to get a tech writer to develop
documentation rather than the co-op).

I am lucky on benefits front (wife's benefits). She has a new type of plan
with a huge deductible ($4k) but low premiums. You contribute to an account
pre-tax for the 4k, and get to roll funds over year-to-year unlike the
medical savings account. Obviously, again, talk to a professional. I would
think that would have advantages for the sole proprietor as well (lower
premiums).

Good Luck!

Bryan

PS: for the record I am cheap, and have tended to go it alone (TurboTax over
accountant) but have found paying people who know what they are doing is
cheaper in the long run... again a tech writing tie-in... :-)

On 1/26/07, beth -dot- tripp -at- verizon -dot- net <beth -dot- tripp -at- verizon -dot- net> wrote:


Hi,

I'm new to the list and have searched for information on health
insurance while doing contract work and didn't find anything in the
archives.

I currently work through a recruiter so I can have health
insurance. (I took a pay cut to ensure that I was covered.) What
do other writers do that are self employed? Those in Canada need
not reply. :o)

Can I become an LLC to get around the self-employed? Does anyone
know a great insurance broker that can beat the system?

Insurance companies are very picky about who they will insure. Out
here on the left coast I've tried to roll-over a health plan from
group to a single account but didn't qualify because I have had
prescriptions filled. I feel another migraine coming on.

The last quote I received for coverage was between 1000.00 and
1500.00 a month just for me, and that was through the state (only
for 18 months). After the 18 months, the state expects you to be
able to get insurance. And no that wasn't COBRA that was after
COBRA runs out.

I'm planning ahead to when the husband retires in 2 years and we
move to northern Wisconsin. Hmmmm, it's only an 8 hour drive to
Canada….

I've tried AARP, no luck. Yes, I'm over 50 but too young to
collect SS and medi-care, I have to wait another 12 years or so.

Thank you for any guidance.

Beth Tripp

Senior Technical Writer



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References:
Contracting and Health Insurance: From: beth . tripp

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