This is not a sexy post about marketing or product but something I was hoping to share with anyone starting or looking to start a start-up. We are a small team of 3 working on our new project and my mom kept bugging me to get health insurance for riding my motorcycle. I frankly never thought it was that important but if anything happens it makes sense to have some coverage.
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Where do you start to begin or even understand health insurance for a start-up?
Good question? I emailed some friends and was recommended a “broker.” I don’t know about you but when I hear the word broker I automatically don’t like them cause they are a middleman adding more cost to something I want. However, in the health insurance field they don’t mark-up the plans at all. Sweet, so try to find a broker or if you need a recommendation please let me know.
Background on health insurance options:
HMO: This is Kaiser. More affordable but you have to wait. My brother is a resident there, say hi to Seth if you see him:)
PPO: Basically, you can go to any doctor in a network. A bit more pricey but you have more flexibility in who you get to see.
Vision: If you don’t have glasses/contacts I would recommend against this. As well, you can buy affordable contacts online for cheaper and just pay out of pocket for your check-up. The overall insurance cost for the year is greater than just out of pocket.
Dental: It is cheaper to NOT get this option and just pay for a cleanup when you need it. Unless you have bad teeth and need major surgery I would recommend against this. I would recommend brushing your teeth twice a day and using my fav, Tom’s Toothpaste:)
Catastrophic: A good option if you are Iron Man and/or in perfect health and just want to be covered if some crazy stuff goes down.
We ended up paying about $150 a month per person for health insurance. We have the company cover 50% (it is a tax write-off) and we each cover the rest.
Some of the other ways to find health insurance are to have your parents cover you if possible, go to the Blue Shield / Blue Cross websites or some entrepreneur should create a simple site for finding health insurance for individuals and/or small companies. If we were in Canada this would be so much more simple;)
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