Frequently Asked Questions (FAQ)

Why is insurance less pricey with Fellow Travelers?

In 2014 the insurance market segmented into 2 categories, group & individual (aka “the Exchanges”). Through the years insurance costs on the exchanges have increased dramatically while the group plans have been relatively stable in comparison.  If you are currently in an Exchange plan as an individual, by joining our group plan your rates should decrease significantly. You can see our plans & prices here.

What is your claims funding pool?

We set aside a portion of our revenue to help our members pay for high cost claims!  If you have a health insurance bill greater than $2k for a single health event, we’ll help you pay for those costs!  The amount received is up to 25% of the total health insurance out of pocket costs depending on the current status of our funding pool.

What are your fees?

For one person businesses, our fees come out to roughly $45 per month to access our group benefits, HR & business guidance, payroll services, and joining a group of other entrepreneurial spirits. Our fees can be seen in the Pricing Tab in the Main Menu.

Do I have to do payroll with you to get health insurance?

IF you have at least 1 bonafide full time employee (besides the owner/founder/officer, etc), then no, we can work with you to set up benefits without payroll through us and therefore not pay any PEO fees. If you do NOT have any W-2 employees or are a 1 person corporation, yes, you would have to run at least $17,000 per year through payroll to have access to our non-health insurance benefits.

OK so I’m a one person business, now what?

If you are currently taxed as an S-corp, C-corp, or LLC taxed as an S-corp…not much really changes for you.  Our payroll services are competitively priced and you’ll have access to benefits you didn’t before!  If you are not taxed as a corporation, you will need to consider the value of our group benefits, HR & business guidance, payroll services, and the community in comparison to the fees you’ll pay (as you probably didn’t have payroll fees before) and unemployment taxes (around $400 per year).  However if you’re here reading this, there’s a strong possibility you should consider being taxed as an S-corporation and save quite a bit on taxes:

How do you ensure tax compliance?

We are co-legally responsible for remitting taxes.  If we do not comply, we’re on the hook!

Do I have to pre-fund payroll?

No, we run payroll bi-weekly and do not require to pre-fund the amounts.  If you do not want to allow electronic funds transfer, then yes, you would have to pre-fund payroll.

How about claiming a deduction for health insurance on my tax return?

You can choose to pay your insurance premiums “above the line pre-tax” through a section 125 plan or pay premiums with after tax dollar and try to itemize deductions on your personal tax return.

Do you have more than 3 Health Insurance Options?

Currently we don’t, but we may add more in the future.

Do you have customer service?

Of course! Our friendly and knowledgeable customer services reps are available to answer your questions and will get back to you within 48 hours.

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