I capitalized on my artistic background to create the Money Storyteller Method, a mindset and accounting tool for business owners that makes even the most advanced financial strategies easy to understand and fun to implement. Expect frank conversations about leveraging our most valuable assets - money, time, creativity, team leadership, and YOU!
Too small for a group health plan?
|
Hello Reader, I have tried literally every version of healthcare under the sun. I have paid out of pocket. I have used health share arrangements. I have provided my own health insurance through my company. I have been on my spouse’s health insurance. And I really have to pay attention to healthcare costs. My family and I have had 8 emergency room visits in the last 8 years. Multiple hospital admissions. True life-threatening situations. My husband is dealing with a chronic illness, and I’ve given birth twice. I am in and out of healthcare a lot. I don’t need to tell you the American healthcare system is broken. And there’s no one perfect solution. Here’s what has frustrated me for the 10 years I’ve been taking care of the financials for founders and their families: to make an option affordable, there have to be enough people behind it to give it economic power. That’s why I’m so excited about Solo Health. They have thousands of solopreneurs and small employers in their ecosystem, so they have the economic power to offer an affordable option. In our experience, their rates have come in 30 to 40% lower than a lot of competitors. Here’s how it works: you set up a self-funded health plan through your own business, and they help with the administration. You need an EIN, but you don’t need an LLC or an S Corp. And if you have a very small team, listen up! Sometimes you have to have five employees for a broker to even talk to you. So when you’re in that first phase, with just two or three people including yourself, it’s almost impossible to find a health insurance option to offer your team. Solo works for teams of up to 10 people, so this is worth a look. Now, don’t get me wrong. It isn’t for everyone. Everyone who applies completes a health questionnaire, so it may not be a good fit if you have a chronic or pre-existing condition. And if you qualify for premium tax credits, the marketplace may be the cheaper option, so compare carefully. But if you’re a successful business owner who doesn’t qualify for those credits, check for yourself. And if you have a team, see if this is a benefit you can start offering in 2027. Solo doesn’t have an open enrollment window. Coverage can start on the first of any month. But in most states, you have to pick a marketplace plan by December 15 for coverage that starts January 1. So check now, while you still have both options.
Be profitable, Full disclosure: Money Storyteller is a Solo Health affiliate, and we receive a referral fee for members who enroll through our link. |
Hi! I'm Katherine, actress turned accountant
I capitalized on my artistic background to create the Money Storyteller Method, a mindset and accounting tool for business owners that makes even the most advanced financial strategies easy to understand and fun to implement. Expect frank conversations about leveraging our most valuable assets - money, time, creativity, team leadership, and YOU!
Hello Reader, On average, I travel eight weeks every year. Some of it is work, some of it is for fun and honestly, most of it is both. I’ve even been known to fly across the country to attend an event simply because a client was going to be there, and there’s nothing like meeting face-to-face when you can. Beyond the connections, the hugs, the breakthroughs… there’s another big benefit: tax deductions. Airfare, hotels, rental cars, meals: when you travel for business, a lot of your expenses...
Hello Reader, The number one mistake I see self-employed parents making? Gifting your kids money. Now you can do this without triggering gift taxes. The gift tax exclusion is up to $19,000 in 2026. But, what if I told you there was a way that you could pay your kids up to $16,100 a year AND get a tax deduction on it? Plus, your kids won't pay taxes on it either? You can pull this off by putting your kids on payroll. If you own your business as a sole proprietor (or with your spouse), you can...
Hello Reader, What does it really mean to be in “the room where it happens?” This one's for you, fellow theatre kids. Leadership can be a lot of lonely work. You make decisions that carry consequences for your clients, your team, and your family. Very few people understand that kind of pressure unless they’ve lived it. Which is why last week I ditched the conference I was at to go on a Joshua Tree hike. I didn’t go alone. I created a whole Recess day for 9 other founders, and together we did...