I've put some of my clients into PHSPs. They are totally legit and a great way to insure a mom-and-pop shop. I'm currently in a health plan for myself but may be on the outside looking in as of October 2010 and then I'll be setting up a PHSP for myself. The problem with conventional insurance is you pay for it even if you don't use it. This option is self insurance, you only pay for what you need and it's very tax efficient.
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