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Unpaid Founders Health Insurance Options?

2 pointsby recursive4over 4 years ago
My co-founder and I have raised a low six-digit round angel investment and have chosen not to pay ourselves a salary. however, we would like to apply a portion towards health insurance.<p>This eliminates options such as Justworks which, as a PMO, is legally required that at least one of us take a minimum wage 30hr&#x2F;wk salary.<p>Have any founders been in this scenario, and if so, how did you resolve it?

1 comment

JHLewisJrover 4 years ago
If you are in America, you can apply (now that the closing date has been extended) via your state&#x27;s healthcare clearing house. You can start with www.healthcare.gov and go from there. You can also buy short term insurance from an association or group you are a member i.e ieee.org and others.<p>If you are outside the US, you can buy it directly from insurance companies. You did not say if you are leaving a job with insurance - if that is the case, you can use healthcare.gov when you leave.<p>I am not sure how the laws are now, but you can structure your company so healthcare is a benefit for everyone. You will probably need a small salary to make it all work out. Definitely a question for your accountant.<p>Good luck on your company!