Bonveda's Blog

Affordable health insurance (small business): You can make reasonable savings on health insurance in some states if you run a home business. Such states require that insurance companies offer home based business the same rates as they do other (larger) business. In other states your home business qualifies for a group rate once it has one employee. You can have your spouse or older kid work as an employee. You'll still qualify for such group rates if such an employee works only part time. This will give you more affordable heath insurance as group rates are always cheaper than individual rates. To know if you qualify or even if your state has such a provision, call your state's department of insurance, department of financial services or their equivalent.

Your health insurance premiums may be tax deductible if you're self employed. You may also be entitled to a tax break if your employer offers a flexible spending account. This means that you'll do well to talk with your tax professional. He/she will be able to tell you savings you can or cannot make this way.

There's a special type of savings account called the Flexible Spending Account. It's a type of savings account where you can put tax-free dollars for your health needs. Any amount not used could be rolled over into the next year (still tax free). This offers you a tax free way of building large reserves of funds for your health needs. Ask your tax professional for more advice on this.

You will get more affordable health insurance (small business) rates by getting and comparing health insurance quotes from up to five quotes sites. Don't just get and compare quotes from one site and think you've done a great job. You'll increase your chances of getting lower health insurance rates by getting quotes from many sites.