Health Insurance for One Employee

Started by BrianF8 • 2 replies • 1298 views

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BrianF8 (New York)
Posts: 1

Posted:

We are a small New York condo with a super and about 5 other full-time staff. We want to get health insurance for our super (besides Workers Comp, that is) but can't afford to get coverage for anyone else.

It seems group coverage is out because in NYS you have to offer coverage to at least two employees (although you can cover a single employee if all others in the group or "class" decline coverage). Sole proprietor seems odd because he'd have to register with the city clerk and that would probably cause more problems.

I assume we'll have to buy an individual private policy and he will have to pay tax on the imputed income.

Thoughts or suggestions are welcome. Thanks!

DonnaS (Tennessee)
Posts: 5,671

Posted:

Brian,

I had a business with 7 employees and had health insurance offered to them. under a group policy. Being in a group saves them a great deal rather than buying individual coverage.

Now I could never afford to pay the premiums, I worked it out with them that they paid the premium under the group plan. That was fine with both the carrier and the employees. We have a couple of insurance guys on the site and they may have more and better info for you but there are ways to cover employees without cost to your HOA.

MaryA1 (Arizona)
Posts: 7,043

Posted:

Brian,

Is it really fair to offer health ins to the super and not the other 5 full-time staff members? Frankly, I don't think it is! Also a workmen's comp policy should cover all your employees and that should be a given.

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