Hey Palm Beach County Entrepreneurs – Let’s Talk Health Insurance (Without the Confusion)
When I left corporate life to start my own business 8 years ago, I remember staring at health insurance options feeling completely lost. COBRA wanted $1,200 a month. The marketplace seemed like it was written in a foreign language. And don’t even get me started on trying to figure out what a “deductible” really meant for my budget.
Sound familiar? As a fellow entrepreneur who’s been in your shoes, let me share what I’ve learned – in plain English.
The Truth About Health Insurance for Entrepreneurs
Here’s what nobody tells you when you start a business: Your income might swing wildly from month to month, but insurance companies still want their premium on the first. It’s like trying to hit a moving target while riding a roller coaster.
But here’s the good news – you have more control than you think. And no, you don’t need an MBA to figure it out.
Your Main Options (Yes, There Are Really Only Three)
1. The Marketplace (Healthcare.gov)
This is where most of my entrepreneur clients start. Why? Because if your income varies (welcome to entrepreneurship!), you might qualify for subsidies. I recently helped a Delray Beach startup founder cut her premium from $650 to $285 per month just by correctly projecting her income.
2. Private Plans
Sometimes these offer better networks or different benefits than marketplace plans. They’re worth exploring if you don’t qualify for subsidies or need specific doctors.
3. Short-Term Coverage
Think of this as your “bridge” option. Not great long-term, but it can work while you’re figuring things out. Just know what you’re getting (and not getting).
The HSA Secret That Will Save Your Business Money
Want to know my favorite tip for entrepreneurs? It’s called a Health Savings Account (HSA), and it’s basically a triple tax break hiding in plain sight.
Here’s why I love HSAs:
– You deduct contributions from your taxes (including self-employment tax!)
– The money grows tax-free
– You use it tax-free for medical expenses
– Unlike FSAs, you keep what you don’t use
In 2025, you can put in $4,150 (individual) or $8,300 (family). That’s real money back in your business.
When Should You Think About Employee Benefits?
I get this question all the time. My answer? Don’t stress about it until you actually have an employee asking. When that happens, we’ll figure it out together. You don’t need a Fortune 500 benefits package to attract good people – you just need to show you care.
Real Stories from Your Neighbors
Last month, I helped a Boynton Beach restaurant owner who thought she couldn’t afford any coverage. We found a high-deductible plan with an HSA that costs her $180/month. She’s protected from catastrophic costs and saving on taxes.
Another client, a tech consultant in Boca, was paying $800 for COBRA. We switched him to a marketplace plan with better coverage for $425/month after subsidies. That’s $4,500 yearly he’s putting back into growing his business.
The Biggest Mistakes I See (and How to Avoid Them)
Mistake #1: “I’ll get insurance when the business takes off”
One accident or illness can wipe out everything you’ve built. Even a basic plan is better than crossing your fingers.
Mistake #2: “The cheapest plan must be the best deal”
That $150/month plan might cost you $15,000 if you actually need to use it. Let’s look at total costs, not just premiums.
Mistake #3: “I don’t have time for this tax stuff”
Spend 30 minutes understanding the self-employed health insurance deduction. It could save you thousands.
Your Next Steps (I Promise, It’s Not That Hard)
1. This week: Write down what you’re paying now (or what COBRA costs)
2. Next week: List your must-have doctors and medications
3. Then: Give me a call. We’ll have a real conversation – no insurance speak
Why This Matters More Than You Think
Your health insurance isn’t just about avoiding bankruptcy from medical bills. It’s about having the confidence to take calculated risks in your business because you know you’re protected. It’s about sleeping well at night instead of worrying about “what if.”
After 8 years of helping Palm Beach County entrepreneurs – from solopreneurs in Lake Worth to growing businesses in West Palm Beach – I’ve seen how the right coverage can actually help your business thrive.
Let’s Make This Simple
You didn’t start your business to become a health insurance expert. That’s where I come in. No confusing jargon, no high-pressure sales tactics – just honest guidance from someone who gets it.
Ready to check this off your list? Call me at 954-646-3666 or email yheaven@aol.com. Let’s turn your health insurance from a source of stress into a business asset.
P.S. Still reading? That tells me you’re serious about getting this right. Good for you. Now let’s talk and make it happen.
Yvonne Heaven has been making health insurance simple for Palm Beach County entrepreneurs since 2016. When she’s not helping business owners protect their dreams, you’ll find her playing pickleball or kayaking in our beautiful South Florida waters.
