Area of Practice: CA
Age: 33
Marital Status: Single
Years in Practice: 5
Employment type: 9 MD, 3 OD
Specialty: Optometry
Today my employer announced that the practice no longer can afford to pay my benefits. He said that I would have to be compensated as an independent contractor, and take a pay cut.
My current situation is 60k salary, 15% of collections on 240k, ultimately earning 100k.
He states that as an employee, the practice pays 37% more, bringing the total compensation package to 137k for the year.
The owner would like me to present a new compensation model.
I was thinking along the lines of:
60k salary, 27% of collections (240K) would bring me to 125k as 1099, resulting in a 12k total compensation loss.
Do you have any advice with obtaining healthcare insurance? Should I set up an LLC?
I would also like to set up an solo 401k for myself.
Thanks for the advice!
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