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Ask HN: What to do about healthcare when working on a startup?

29 pointsby mrsmee89almost 10 years ago
I&#x27;m currently living off my savings.<p>What are my options as far as getting a high value healthcare plan?<p>To be clear I have no income as of now, not sure how that affects government subsidies.

7 comments

toomuchtodoalmost 10 years ago
Have you checked <a href="https:&#x2F;&#x2F;www.healthcare.gov&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.healthcare.gov&#x2F;</a> (or <a href="http:&#x2F;&#x2F;www.coveredca.com&#x2F;" rel="nofollow">http:&#x2F;&#x2F;www.coveredca.com&#x2F;</a> if you&#x27;re in CA)? If you&#x27;re living off your savings and have little or no income, your monthly premium should be heavily subsidized.
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rdlecler1almost 10 years ago
I would love to see some kind of streamlined startup system. You apply, pay a nominal fee, if accepted--you&#x27;re then set up with a corporation, standard offering documents, digital captable, vested founders agreements. The government offers HC for companies with less than $1.5m funding and lifts all of the legal overhead associated with employment&#x2F;compliance issues--at least for a short period of time. Starting a startup is hard, you give up a lot of your life, opportunity cost, take on a lot of risk, mess with your health, and then you have to deal with all of the legal and admin costs--it&#x27;s a tax on innovation.
gumbyalmost 10 years ago
Just buy health care. Since you have no income you qualify for subsidies under ACA&#x2F;Obamacare (but even without those subsidies the plans available are much better than the ones before the law passed).<p>The ACA is one of the most entrepreneur-friendly laws passed in my lifetime. Big businesses don&#x27;t like it because health care is one way to retain employees, and so the lobbyists screwed it up a bit for medium businesses. But while starting, it&#x27;s a lifeline.<p>COBRA from your previous employer is probably more expensive.
lambdaelitealmost 10 years ago
It sounds like it&#x27;s not viable at this moment, but later down the line you could use a PEO (professional employment organization) for your startup. This would give you health insurance in addition to a bunch of other benefits and services.<p>Professional organizations (like IEEE) offer insurance plans. Another possibility are shopping clubs like Costco. I haven&#x27;t used either, but include them as possibilities in case you weren&#x27;t aware.
caseyf7almost 10 years ago
I had a health insurance expert tell me with a straight face that she recommends getting a part time job at Starbucks to her clients. Apparently they give great health benefits to part time employees.
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prokesalmost 10 years ago
You may want to consider a High Deductible Health Plan (HDHP), which generally offer lower monthly premiums for a higher deductible. This reduces your monthly cost but should something happen, would require more paid out of pocket before insurance contributes. The main benefit is a safety net in case something serious happens.<p>Additionally, with an HDHP you may be eligible for a Health Savings Account (HSA), which are tax advantaged savings for medical coverage, reducing your cost of care.<p>If you&#x27;re interested in HSA&#x27;s I have blogged on their benefits[1] and wrote a web app to track your HSA spending[2].<p>[1] <a href="http:&#x2F;&#x2F;www.hsaedge.com&#x2F;" rel="nofollow">http:&#x2F;&#x2F;www.hsaedge.com&#x2F;</a> [2] <a href="http:&#x2F;&#x2F;www.trackhsa.com" rel="nofollow">http:&#x2F;&#x2F;www.trackhsa.com</a>
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ams6110almost 10 years ago
Go without? What&#x27;s the worst that can happen? You go bankrupt? Surely you&#x27;ve accepted that possibility already, if you&#x27;re living on savings, and knowing that most startups fail.
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