I hate to have to ask this but how do you manage healthcare being a solo s-corp? I was under the impression this could only be done through a company if two unrelated family members owned the company? The only other alternative is "Obamacare"? I could be totally wrong.
Speaking as someone who has been mostly self-employed since about 2002, Obamacare is a godsend. Massively better than the old individual "underwriting" system that basically made it impossible to get coverage. Yes, health insurance is expensive, but you may be amazed that the ACA marketplace plans frequently cost less than employer plans with better market protections. The only way to do health insurance nowadays is to assume it's only for catastrophes; ie: an $8-15k deductible is nothing compared to a $250k hospital visit. Basically, you are buying a discount plan (your insurer's negotiated rates) plus a stop-loss cover. An example: I am an old fart at 63 and have an HSA plan with a $7,500 deductible. My premium is $900/mo, thus the MOST I will ever have to pay for health care in any 12 month period is $18,300. Way less than a $300k uncomplicated heart attack or a $1M cancer diagnosis. Work your tax returns right, and you can get subsidies that reduce the annual costs even more . . .
It's probably worth remembering this sort of thing when people say there is no difference between the parties. Every Republican voted against it, they almost repealed it, and apparently are gearing up for another crack at repeal https://www.theatlantic.com/politics/archive/2024/01/trump-o...
At your age, you'll likely be on Medicare soon either way, but some of us are still decades away.
I truly am waiting for Medicare (traditional only, no Advantage plans as those are a complete rip-off). I can tell you though, I've been continuously on the ACA since it started selling plans in 2012 and it's always been better than anything I could cobble together before. It's fantastic to be able to decide how and where I want to live my life without being locked into a shitty job or tied to a crap insurer because you can't pass underwriting to get on a different plan.
Also, I am on the highest ACA premium tier because of my age. Someone who's 35 could get the same policy I have for about $400/mo., unsubsidised.
Thank you - as someone with a bit of disability and facing future hip surgery, that's a helpful perspective. You're not far off on my age; I actually aged off my parents insurance right around the time the ACA passed and so I was able to get back on because of that law which extended parental coverage until 26. I'm currently quite happy with most aspects of my employment which includes my health insurance, but that situation never seems to last.
