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Health Insurance for startups

Does anyone have creative ideas or resources in terms of getting health insurance if we are the founders of a pre-funding, pre-salary company?

Several of us are currently under our spouses but that will not always be an option. We looked into COBRA but that is prohibitively expensive. Most PSO's want at least 3-5 salaried employees before they will accept us.

This leaves a dangerous gap between starting a company and getting to decent funding before picking up health insurance.

Thoughts or advice?

16 Replies

Craig Green
1
0
Craig Green Entrepreneur
E-commerce Consultant
We just bought person insurance for my wife and I thought Assurant -- a company that is affiliated with USAA. The premium is running $520/month, which is $800 cheaper than the COBRA offer I had. It's not bells and whistles, but it covers disasters nicely. C
Jonathan Murray
2
0
Jonathan Murray Entrepreneur
Co-Founder / CEO of MyVR.com
We went ehealth.com in both of my startups to get benefits before we were large enough to have group benefits. We went with something with a higher deductible to keep the costs down. It's cheaper than Cobra, but health insurance is very expensive no matter how you look at it. When we got funding in my first startup, we actually stuck with this option and just gave people a monthly health stipend, but told them it would go away when we got benefits.

When you're ready, fyi we use Bay Benefits for my current startup and I love them.

You might also want to check out www.Zenefits.com and see if they can do anything for you. They're a new YC company tackling the problem of affordable benefits for startups.
Matt Moore
0
0
Matt Moore Entrepreneur
Co-Founder & iCEO at CrowdMob Inc.
You can always get personal health insurance directly from blue shield and blue cross. Def not cheap, but better than none Best, Matt -- Matthew Moore Co-Founder & CTO, CrowdMob Inc. Mobile: (650) 888-5962 Sent from my iPhone
Brian McConnell
0
0
Brian McConnell Entrepreneur
Head of Localization at Medium.com
Starting in October, the health care exchange will be up and running in California. If your income is limited, you should qualify for subsidies on personal health insurance. If you're in San Francisco proper, there is also Healthy San Francisco. Healthy SF will at least give you "run over by a bus" insurance in the meantime.
Joel Magalnick
0
0
Joel Magalnick Entrepreneur
Storyteller. Innovator. Leader.
I haven't looked into it for a while, but Costco executive memberships used to have health plans available. Or, if there's a trade organization in your area that represents whatever kind of business you have, they may have a group plan you could join.
Craig Green
0
0
Craig Green Entrepreneur
E-commerce Consultant
We looked at the NASE, And it was not as good a deal. Craig Green [removed to protect privacy]
Kym McNicholas
0
0
Kym McNicholas Entrepreneur
TV Host, Tech Jounalist, Director of Extreme Tech Challenge, Host of KDOW Radio's NewFocus On Innovation
HealthNet was not worth it!!! I'm now I would go with a Kaiser personal plan.
AJAY BAM
1
0
AJAY BAM Entrepreneur
Ceo and Co-founder at Vyrill Inc
Matthew,

I am in a similar position as yours and I leverage Healthy San Francisco. It covers medical costs as long as you are in the San Francisco city area. Its $450 for 3 months. No dental/eye though which is fine with me. I buy separate health travel insurance as needed for international/domestic travel.

This is better than nothing at all. I have been with the program for a year now. I am in the healthy age group and fit and thus this is good enough for me.

http://www.healthysanfrancisco.org/


Chetan Nadgouda
0
0
Chetan Nadgouda Entrepreneur
Dev Lead at iSoftStone
I looked into small business insurance through Costco. http://www.costco.com/business-health-insurance.html It is kind of expensive and hence we did not end up buying it. However, that's an option.
Alex Frey
0
0
Alex Frey Entrepreneur
Entrepreneur
I was in this situation and found the US Government website athttp://finder.healthcare.gov/ to be pretty useful. It's almost like a pre-exchange exchange. You fill out the three questions and go to the private plans for individuals and families section and they will give you a list of plans based on your state that you can choose from. I selected a high deductible plan that ~$300 a month and it worked out all right.
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