Ask HN: How do you do your health insurance in your startup?

https://news.ycombinator.com/item?id=600630

by matttah • 17 years ago

14 9 17 years ago

news.ycombinator.com

My start up is about 1 year old now, and my partner and I are graduating this year, so we need to get our own health insurance. We currently only need health insurance for both of us.

We're debating getting corporate health insurance via the company or both just getting our individual plans. We both have relatively the same health needs(just major accident coverage). What do you do for yourself: corporate or individual coverage?

grinich• 17 years ago

I'd be very interested in hearing about things like this as well. Anybody know of a handbook-style resource for hackers doing startups? pg's essays are pretty close, but I'm looking for something more concrete.

oldgregg• 17 years ago

http://news.ycombinator.com/item?id=560169

tptacek• 17 years ago

Rehash of my answer from that thread:

* Get high-deductable, low-premium insurance --- make sure it's a plan that qualifies for an HSA. You want to be paying low hundred(s) every month, but also essentially paying out of pocket for your doctor's visits.

* If you have a bunch of people on your team, get group coverage. The major win for group coverage isn't cost (you may actually pay a little more), but that everyone on your team gets covered regardless of preexisting conditions. On your own, you can get flat-out turned down for relatively minor problems.

* Ours is Oxford/United (Oxford if you're in Manhattan, United everywhere else --- Chicago, in our case). I'm not a fan, but it works.

* Carrying insurance has been a major hiring win for us. Again, there are A-players that can't effectively cover themselves, because of innocuous but disqualifying health records.

biotech2• 17 years ago

Carrying insurance has been a major hiring win for us.

I agree; it is much easier to take a job with a small company knowing that the health insurance situation is secure. For many, the two most important things about a job (other than the work itself) is the compensation (salary/equity) and health insurance. Especially if the potential employee has a family.

You could conceivably risk scaring away a great employee due to problems with health insurance. Well, at least here in the USA.

BigCanOfTuna• 17 years ago

As a Canadian, health insurance isn't an issue. However, it doesn't cover prescription drugs or permanent/long term disability....the latter being the most important. Also, make sure the insurance covers your current occupation appropriately. "Works with computers" might mean your claim is denied because you could still do data entry at 8 bucks an hour...even though 8 of your fingers have been severed.

dwynings• 17 years ago

HN Archive of Health Insurance Topics http://www.gabrielweinberg.com/startupswiki/Ask_YC_Archive#t...

biotech2• 17 years ago

It's probably a good idea to start with the individual/high deductible plans while the company is still young, especially if you're both healthy. As you expand and take on a few more employees, you'll probably want to start looking at group coverage.

aquaphile• 17 years ago

Unless you have >10 employees that _will_ _participate_ in any group coverage plan, you only have one option: pay the employees a little extra to cover the premiums on their own personal health insurance plans. The other benefit of each employee buying their own plan is that the health insurance is no longer tied to their employment with a specific company.

comster• 17 years ago

we dont =(

Ask HN: How do you do your health insurance in your startup?

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