Health insurance for self-employed

It can indeed be risky. Depends on a lot factors. My net last year was nearly $88K after all expenses, medical insurance, etc. It is a little disingenuous to include taxes in comparing net, as even a company driver is going to pay taxes on what they earn, and if you figure that in, there are very few company drivers to actually NET take home of $65K. Making $65K is not taking home $65K. My wife is not employed. This is a one earner household. We have our own BCBS policy that is not thru anyone but direct with BCBS. But I do have high deductible and contribute to Health Savings Account so that all medical costs are fully deductible and premiums stay as low as possible. Only wife had pre-existing condition. Premiums are $551 a month. My policy grandfathered in when Obummercare came into effect, so I never was required to meet Obummercare provisions. But I have gotten hit with price hikes. My policy started out at under $200 premiums for both of us.

 

Taxs I was talking about were related to truck highway use tax you pay company driver doesn't fuel tax , self employment tax. Your healt ins. Good for you he ovislly can't grandfather a policy.88,000 is alright we all no nobody stretch numbers but your going to spend some to a lot for repairs that is going to happen. Out of that 88,000 you have to support a family pay all bills save for retirement plus save to replace equipment not keep staying in debt financing new trucks buying a first truck with a truck payment to clear 88,000 you going to stay in that truck a lot. Which is what said to start

 

Most of the time that what it is if you sat down with all the numbers owners that are leased to a company they really not much difference there a few exemption good luck

 

If your heart is not in trucking 100%.....Get out now, Or you'll be miserable.

Plus, We really don't need any "Im not sure" what I want out of my life folks in trucking..

It hurts OUR bottom lines.......

 

Yep, trucking chews up and spits guys & gals out, then again, so does just about any other vocation out there.

There's always negatives in just about every facet of life.

I've been in this industry for 7 years now. I've experienced some of the same things you're expressing, so I know exactly how you feel.

Personally I'm in a really comfortable position now as an owner operator. I have a lot of peace, contentment and gratitude for sticking with it.

This industry is very unique and there are a lot of really cool people I've met and become friends with in the past 7 years.

There's opportunities too...

Oh maybe not to get rich quick. But sufficient enough to meet your needs and provide a real sense of independence and pride in service.

I wish you well in whatever you decide to do.

 

RD, I will leave you with this, I do agree with a lot of what you said, and I think it was smart of you to ask questions and do your homework, you have come to a conclusion that you are happy with.

Remember this, once you buy a truck you are married to it, and only three things can happen, you don't do that great and you are miserable at your decision, you do terrible, lose the truck and your credit rating, or you do well, (and herein lies the rub) to do well at something that you really don't enjoy will eat at you forever, I think you made a wise choice.

JMHO, good luck going forward.

 

Agree, finally someone who went on this forum with an open mind.

Like the old saying, "measuring twice and cut once"
Heck, in this business measure, measure, ask , ask and compare , compare.