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iQuestions Faculty, Randy and Elizabeth Draper 
 
 
Question: 
 
Do I need to get insurance and benefits for my home-based business? 
 
Answer: 
 
RANDY: A major stumbling block for a lot of people wanting to start 
their own business is benefits. When you’re at a corporate job, you’ve 
got incredible benefits. They give you health insurance, and they give 
you all kinds of things to go with that.  
 
Health insurance is a big issue, but don’t let that scare you from 
getting into the home-based business market and starting your own 
business, because those benefits may keep you from really being able 
to do what you want to do. 
 
ELIZABETH: One thing you need to remember is, when you’re at home 
and working out of your home, you also save a lot of money, and that 
money that you save could also be converted into having the cash for 
your insurance.  
 
For example, when you’re working outside of the home, you’re not 
paying as much gas, you don’t need a lot of work clothes or pay 
someone to take care of your children. When you add all of that up, 
that is a lot of extra cash flow that you can have coming into your 
budget and that would then afford you the opportunity to go to some 
other places and get insurance for your family. 
 
RANDY: You could go to www.dsa.org. They have insurance for direct 
sellers. You can also go to the National Association for the Self-
 
 
Employed— NASE. They have insurance for people who are in their own 
business. 
 
I would suggest you find an insurance agent that’s in your area that 
has multiple companies he or she represents. They can pull all kinds of 
quotes together that will give you an idea of what it’s going to cost and 
how you go about getting that taken care of. 
 
One of the things we’ve done that I think is incredible is the health 
savings account, where you actually put money in savings and then 
that money goes towards your deductible. And if don’t spend it and 
you’re healthy, that money stays in your account and draws interest 
and you can actually start pulling that out at age 58. It’s a wonderful 
way to take care of insurance on a lower premium and have that 
money saved for yourself if you don’t spend it. 
 
Draper -2- 
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