I have had discussions with 2 separate small business owners in the last week that do not have health insurance. Each says the same thing “I am healthy and that I’ll pay cash price if needed”. The two business owners are in similar situations, employing around 5 employees and having your typical business expenses. I try to explain to these individuals the risk they are taking by not simply having health insurance. A car accident, falling off a ladder, small surgery, serious illness could bankrupt their business. And is that worth simply paying around $400 a month for high deductible plan.

Mainly wanted to vent, but what are other coverages you believe are a must for small business owner?

Thanks.

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Posted by TheOcean

#honeyfriedchicken

Member since Aug 2004

42537 posts

Posted on 2/29/24 at 9:56 am to tigerforever7

Thanks, obamacare

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Posted by baldona

Florida

Member since Feb 2016

20512 posts

Posted on 2/29/24 at 10:38 am to tigerforever7

quote:
Mainly wanted to vent, but what are other coverages you believe are a must for small business owner?

A must? To be honest you are talking more about short term disability almost than health insurance.

But what insurance you pay is just part of being a small business owner. There's always more insurance that one can buy. I don't disagree that a basic health insurance plan is usually a good idea though.

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Posted by LSUFanHouston

NOLA

Member since Jul 2009

37153 posts

Posted on 2/29/24 at 1:12 pm to tigerforever7

quote:
And is that worth simply paying around $400 a month for high deductible plan.

If someone could insure their family for $400/month, most would do so.

But it's usually like $1K or more a month for a terrible policy.

Save that 12K and if a bad accident happens, settle with the doctors or pay them $25/month for a bunch of years.

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Posted by La Place Mike

West Florida Republic

Member since Jan 2004

28838 posts

Posted on 2/29/24 at 4:30 pm to tigerforever7