Health Coverage for Landlords

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Bryan MartinBusiness Member
Accountant · Springfield, IL · Member since 2022 · 190 posts · 100 votes
3y

I'd look into the Health Insurance Exchange in your state.  As for the question when filling out your income, It's your Modified Adjusted Gross Income (more info can be found here: https://www.healthcare.gov/income-and-household-information/income/.  For rentals, it's your net income from the rentals which would also include things like depreciation

Also, please note that it's your household income and not your individual income if you have a spouse or others living with you.

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  • Frank Salgado
    OP
    Homeowner · Anaheim, CA · Member since 2009 · 20 posts · 9 votes
    3y

    Also when filling out applications for covered in California and they ask for income, what is the best way to answer?

    Rental income minus the mortgages and taxes and insurance, basically Cash Flow?

    0Reply
  • Jeanelle Ignacio
    Investor · San Dimas, CA · Member since 2023 · 12 posts · 9 votes
    3y

    Curious to see what you find out.  I still have my W2 job and covered with my insurance plan.  My husband and I also own a business (not real estate related) and a few rentals in Ca....but eventually I will be transitioning from my job to focus on our businesses.  I'd also like to offer health coverage to our employees besides ourselves in the near future....so I'll be in the same boat as you inquiring about health care coverage.  From my understanding for covered California, yes I believe it's your cash flow as they want self-employed folks to enter both income and expenses.

    1Reply
  • Bryan MartinBusiness Member
    Accountant · Springfield, IL · Member since 2022 · 190 posts · 100 votes
    3y

    I'd look into the Health Insurance Exchange in your state.  As for the question when filling out your income, It's your Modified Adjusted Gross Income (more info can be found here: https://www.healthcare.gov/income-and-household-information/income/.  For rentals, it's your net income from the rentals which would also include things like depreciation

    Also, please note that it's your household income and not your individual income if you have a spouse or others living with you.

    [email protected]217-788-0750
    Taxstra PLLC4.9115 Reviews
    WebsiteView Page
    1Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    3y

    @Frank Salgado

    We have a high deductible health share plan.  We stopped 'working' before 50. 

    It doesn't cover pregnancy or substance rehab. It's mostly just catastrophic protection for a little over $500/mo. 

    0Reply
  • Frank Salgado
    OP
    Homeowner · Anaheim, CA · Member since 2009 · 20 posts · 9 votes
    3y

    Thanks to all the responses. I went on Covered California and I got a Kaiser bronze plan for $325 a month. That sounds real good I'm going to take that, it's a lot cheaper than I thought.

    I have 2 dependents that I claim on my taxes I think that helps. I net $5k a month so it will be tight, get another 2K next year when I hit 62.But at least I don't have to go to a job I don't enjoy anymore.

    Still have some cash to invest, hopefully make some more Passive income.

    Thanks Everybody

    0Reply
  • Brian Phan
    Investor · Atlanta, GA · Member since 2019 · 11 posts · 3 votes
    3y

    In my experience, typically my clients around that age just get on a health plan to cover the catastrophic and wellness.

    Then get on to Medicare at 65.

    What's the deductible on that Kaiser bronze plan?

    0Reply
  • Frank Salgado
    OP
    Homeowner · Anaheim, CA · Member since 2009 · 20 posts · 9 votes
    3y
    Quote from @Brian Phan:

    In my experience, typically my clients around that age just get on a health plan to cover the catastrophic and wellness.

    Then get on to Medicare at 65.

    What's the deductible on that Kaiser bronze plan?


     $7000.00 deductible,I  have been fortunate to be in pretty healthy shape and only go the DR for physicals.

    Do you have a better plan? That's why I wrote the post to get the best plan.

    Thanks

    1Reply
  • Brian Phan
    Investor · Atlanta, GA · Member since 2019 · 11 posts · 3 votes
    3y

    Unfortunately, I'm not licensed in CA.

    I do have a referral business partner I can make an introduction to. 

    Feel free to send me a DM, we can connect there.

    0Reply
  • Paul Vail
    The Triangle, NC · Member since 2021 · 193 posts · 117 votes
    3y
    Our family has been pretty happy with the ACA HDHPs - big fans of HSA accounts.  If the coverage and the tax-advantages suit your needs, might be an option.
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