Protecting business without health insurance

[Carol Armstrong]

What is the name of your state (only U.S. law)? Wisconsin

I own a resort in northern Wisconsin. Business is REALLY bad. It has become apparent that we can no longer afford our health insurance. Is there a particular way to structure our business to protect it in case of catastrophic medical bills?

 

[JETX]

Is there a particular way to structure our business to protect it in case of catastrophic medical bills?

How is a business, that is not a PERSON, going to have ANY medical bills, much less catastrophic ones??

 

[Carol Armstrong]

I'm sorry, I didn't make myself clear.

We own this resort (the physical property), if we lose our health insurance and we experience catastrophic medical bills, how can we protect this property (and the business) from being taken?

It's not the business that would experience the medical bills. But the business is our "asset" --- could it be taken from us?

 

[JETX]

We own this resort (the physical property), if we lose our health insurance and we experience catastrophic medical bills, how can we protect this property (and the business) from being taken?

The only way to protect yourself from a claim when you refuse to purchase insurance is to sell the property to someone who will take the steps to purchase insurance.