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Old 22nd June 2008, 06:23 PM
FLOYD FLOYD is offline
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As an independent business operator, health insurance is a challenge.
Use a certified accountant or tax specialist to help be sure it is set properly for tax laws. You can pay your premiums through your business so that it is dedctible for the business and doesn't come from you taxable income.
I'm single and pay about $150 month. I know of families of independently employed people who pay $6000 per year for family coverage. This covers NO dental, NO basic eyecare, and the decuctible is set that I would pay about $2500 out of pocket for emergency care before insurance started to pay then I pay a percentage up to $10,000(I think, confusing).

You can set up a medical saving plan. This money gets set aside for medical expenses before being taxed . I estimated the amount I spend on dental, eye, and a couple of basic doctor visits a year. This money comes out of my income before being taxed and since it is never paid to me, it is not so missed. When I go to the dentist, eye doctor, etc the money is already set aside. I pay with a debit card that pays the doctor out of this account. This makes it easier to go to the doctor if needed because the money is already there.

Us medical care. One of the most complex systems in the world from what I understand. It has its problems but very good care is available. You just have to plan ahead and be prepared for emergencies. Set money aside for expenses not covered by the deductible. This is where people get into trouble. They can buy a new car or go on a vacation but claim they can't afford to go to the doctor. What's really more important? Put aside a fund for noncovered care first, then see about the new car.

Last edited by FLOYD; 22nd June 2008 at 06:25 PM.
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