Yes, it would be an owner's draw. 

Agreed.  Set it up as a separate account in the equity section.  This makes it easy to get an annual total for their 1040 at tax time.

I also set up personal home expenses (rent/mortgage payment, utilities, etc) paid out of te business account as separate lines in the equity section so I can easily transfer for the home office deduction.

Mark Wagner CPA

Greetings vdeyet18                     A couple of variables to consider:  what is the business entity?  Sole proprietor, LLC, S or C corp?  Is the owner also an employee?  Are we talking about premiums, copays or both?  If the owner is also an employee that's an "employee benefit" and should be characterized as such.  Premiums paid by the company should be tracked for ACA purposes.  Best if copays are tracked separately.  Of course all that will probably be changing in 2019.  Good luck!

Hello @WineGuy S-Corp and is an employee. How would i classify the "employee benefit"? As a business expense?

Insurance premiums for an S-corp shareholder are deductible to the business (employee benefits OR insurance expense) and should be added to the W-2 as compensation.  The compensation is subject to income tax, but not SS/Medi tax or FUTA.  QB has a payroll deduction category for this.  Then the employee deducts as self-employed health insurance on the 1040.

Medical expenses beyond the premiums are personal expenses and are not deductible as business expenses, and should be considered distributions.

Mark Wagner, CPA