Business Owner Insurance: What You Need to Know About Health Coverage and Tax Savings

Running your own business comes with a ton of perks—but let’s be real, business owner insurance isn’t always one of them. Finding the right health insurance can feel like a lot of work, but we’re here to help make it a little easier. Whether you’re just getting started or need a quick refresher, we’ve got the details on business owner insurance, how to find the right plan, and what to do when tax time rolls around.

Where to Start

1. Marketplace Plans: Head over to Healthcare.gov or your state’s marketplace for individual and family plans. You’ll find a ton of options for business owners who need coverage.

2. Professional Associations: Check if your industry offers group plans for members. It’s worth looking into as you shop around for business owner insurance.

3. Private Insurance Providers: Companies like Blue Cross Blue Shield or Kaiser Permanente offer solid plans—get in touch with them directly to find something that fits your needs.

4. Specialized Advisors: Still unsure? Experts like our favorite girl, Dr. Noor can help you cut through the noise and find a plan that’s customized for your business owner insurance needs.

   
   

Tax Stuff You Need to Know

• Sole Proprietors: Filing as a Schedule C? Good news—your business owner insurance premiums can be deducted from your personal tax return. This little line-item deduction can make a big impact when tax season rolls around.

• S-Corporations: If you're an S-corp owner, your premiums need to go through payroll to qualify as a deduction. You’ll see the premium reflected on your W-2, and it’ll be deducted from your business income!

Why It’s a Big Deal

Business owner insurance isn’t just about staying covered—doing it right can save you money at tax time, too. Stay on top of your coverage and tax details, so you don’t end up making expensive mistakes down the road.

Need help figuring out the best plan or want more tips on running your business like a pro? Let’s book a consult call and go over your best deduction options!