Is this legal and can it work?:

Get 100 people to chip in $1000 or 50 to chip in $2000....

With the money buy a rental property and name each of the 50-100 people as the employees who would all split the profits.

Will this work to make us a company of 50-100 employees so that we can get good Health Insurance?

Thanks!

ScottGem

I think it would work, but I don't think its necessary. I would talk to insurance agents. I believe there are a number of ways you can set up a group to negotiate a better group rate for health insurance. You can also look to small business trade associations, many offer health insurance.

Fr_Chuck

Yes it should work, wish you would do it hear, I would love to sell 100 policies in one visit, I could take the rest of the year off

RickJ

I am investigating it - hoping that the regulatory/financial issues of being an employer would not negate the benefit of getting the good insurance

Guest

No, it will not work in most states. For group plans most carriers will ask for documentation proving it is a legitimate business. Tax filings payroll records etc. Several even have a line in the contract the client signs that states they are not a business just apply for group insurance.
Each state is different though.