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Business owner insurance question

Posted on 10/4/15 at 1:12 pm
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 1:12 pm
For those of you out there that have your own business, how much does it cost you to have family insurance?

This is more for the small business owners.

Thanks
Posted by OysterPoBoy
City of St. George
Member since Jul 2013
35145 posts
Posted on 10/4/15 at 1:17 pm to
What is family insurance?
Posted by VetteGuy
Member since Feb 2008
28182 posts
Posted on 10/4/15 at 1:45 pm to
You mean medical?

Age and plan deductions matter, hard to answer w/o more specifics.
Posted by Mr.Perfect
Louisiana
Member since Mar 2013
17438 posts
Posted on 10/4/15 at 1:52 pm to
Wtf are you talking about?

Be very careful how you pay premiums for health from company funds
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 1:55 pm to
Medical insurance for my family
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39956 posts
Posted on 10/4/15 at 2:01 pm to
Lots.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 2:09 pm to
I pretty much knew it was costly, I was just trying to get an idea of what the cost ranged at
Posted by Mr.Perfect
Louisiana
Member since Mar 2013
17438 posts
Posted on 10/4/15 at 2:36 pm to
Why are you asking in the scope of "small business owner"?

You need to discuss with your tax advisor. The IRS just changed rules about deducting as a business expense
Posted by VABuckeye
Naples, FL
Member since Dec 2007
35557 posts
Posted on 10/4/15 at 2:59 pm to
I'll answer. We have a small family business. The monthly premium is just under $2500. That covers 5 adults, three of them are over the age of 50. The other two are in their 20s.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 3:17 pm to
How much did your company cover with that $2500?
Posted by VABuckeye
Naples, FL
Member since Dec 2007
35557 posts
Posted on 10/4/15 at 3:18 pm to
100%
Posted by FCP
Delta State Univ. - Fightin' Okra
Member since Sep 2010
4785 posts
Posted on 10/4/15 at 3:45 pm to
About 2 years ago my plan with Blue Cross cost around $12K per year. The monthly premium was less than that, but it was a high deductible plan which basically paid zero until deductible was met. Then, it paid 100%. I figured my monthly cost of the premium plus 1/12th of the deductible to be around $1,000.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 3:46 pm to
Ok thanks
Posted by AudubonEagle
Member since Feb 2015
78 posts
Posted on 10/4/15 at 3:47 pm to
Prepare for about 2k a month.
Posted by Placebeaux
Bobby Fischer Fan Club President
Member since Jun 2008
51852 posts
Posted on 10/4/15 at 3:52 pm to
Family medical? I pay around 550 a month
Business GL and Auto? I pay 2200 a month
Work comp? I pay 15% of what ever payroll is a month
Posted by lazcreek
Galvez
Member since Feb 2004
1105 posts
Posted on 10/4/15 at 4:07 pm to
Family 4 kids

700 month with 6600 deductible.

Just received letter from blue cross. Prepare for higher deductible and higher premium.

It's going to $1000 month with a $12000 deductible.

Yes 24000 a year for insurance. No I don't make a ton of money. Wife and I around $150k with 4 kids.

I'm above poor and below rich. I'm caught in the middle.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 4:11 pm to
Lazcreek, that's sort of what I expected. The monthly out of pocket wouldn't be too awful but the high deductible would be a punch in the junk.
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65694 posts
Posted on 10/4/15 at 4:23 pm to
So this is the Money Board now.

OK

I thought this was the O-T.
Posted by VetteGuy
Member since Feb 2008
28182 posts
Posted on 10/4/15 at 4:42 pm to
Well the OP is giving up details like he's being water-boarded, but I think he got an answer.
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17010 posts
Posted on 10/4/15 at 6:23 pm to
Vetteguy, you are quite the scholarly gentlemen. Well course, I'm not gonna give up my whole hand with that question. I gotta protect myself a little bit
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