#455 Health Insurance Open Enrollment: Strategies for Individuals and Small Businesses

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 10 October 2023

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen highlight the significance of healthcare open enrollment for solopreneurs and business owners. They delve into a range of strategies and tips to help manage healthcare expenses and optimize benefits. Here are some of the key points they discussed: Insights into different healthcare facets and angles, such as the Health Reimbursement Arrangement (HRA), the Qualified Small Employer Health Reimbursement Arr...

Transcript

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0:00.0	If you don't have coverage with your employer or you are a solopreneur, open enrollment is a big deal.
0:06.7	You need a plan for this.
0:07.8	We're all going to face some of these medical expenses and not having medical coverage and medical expenses are one.
0:13.4	The number one causes of bankruptcy.
0:14.7	If any of you wonder what you can write off, go to publication 502.
0:19.0	It's the list by the – it's like a little handbook from the IRS, publication 502, and you
0:25.1	can look at all the things that you can ride off under any of these plans and what you
0:29.7	can't.
0:30.3	Welcome everybody to this week's episode of the Main Street Business Podcast.
0:34.3	My name is Mark Kohler.
0:35.2	I'm here with the illustrious Matt Sorensen.
0:37.6	Excited for that time of the year. Oh, it's that special time of year? It's not the most
0:42.7	wonderful time of the year. Yeah, yeah. It's not, you know, leaves changing color or fall football,
0:48.7	no, or Thanksgiving or the Chris. Oh, it's the, it's that special time when Taylor Swift's and Travis Kelsey. No, no. You know, we are. You're excited about that. It's open enrollment. Oh, p. Wow. Wow. Okay. Yeah. Everything you guys want to talk. Healthcare open enrollment guys. Okay. It's not college enrollment or getting your kids back to school. This is health care open enrollment. Very exciting. But let's be honest, it matters. Health care is a huge cost for every individual and for many of you business owners. You're self-employed. You're buying it for yourself. Or maybe you have some of these other plans where your employees go on the marketplace want to talk about those but big topic right
1:28.2	now huge expense and some strategies in planning that could be helpful if you get your crap together yeah
1:32.6	at our 360 event um we do it twice a year for three days we've got two to three hours of just
1:38.1	health care topics alone it is a it's it's it's just a complex yet simple it's it's a topic avoid. So let me just say this. If you've even
1:48.0	listened to us on a regular basis, think, are they going to say the same darn thing? We're not.
1:51.8	Today we want to bring some cutting edge. What's going on right now in the industry, some cutting
1:57.7	edge topics that will help you. It's not just about how do I get health insurance,
2:01.8	which health insurance is best.
2:04.2	It's the strategy conversation.
	...

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