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Does anyone have advice for startup founders with pre-existing conditions? I am very close to taking the startup plunge but my Type I Diabetes makes it really

by awolf 16y ago

Does anyone have advice for startup founders with pre-existing conditions? I am very close to taking the startup plunge but my Type I Diabetes makes it really hard to give up my current (awesome) healthcare.

eru 16y ago
Have you thought about moving to Britain? The National Health Service may cover you.
- awolf 16y ago
  I have considered this as well as moving to Canada (I'm a dual US and Canadian citizen). In both cases this would be a lapse in my US coverage so there would be no going back to the way things were before moving.
  - eru 16y ago
    Seems to be a lock-in.
MichaelSalib 16y ago
Move to Massachusetts. I'm serious. MA has a regulated health insurance exchange. You can compare plans on the exchange website; plans as well as premium increases have to be approved by the exchange administrator. So if an insurance company decides to raise premiums by 80%, they'll be kicked off the exchange. Plus, in MA it is illegal to refuse coverage for pre-existing conditions. They can't even vary the price based on factors other than age/gender/location and maybe smoking. Check out https://www.mahealthconnector.org/portal/site/connector/menuitem.0c5d8e0f63bf313ea6c05667d6468a0c/?fiShown=default https://www.mahealthconnector.org/portal/site/connector/menu... to see for yourself. On the down side, you have to have insurance or pay a big fine every year. And healthcare, just like everything else in MA is expensive. But probably cheaper than CA.
- sitmaster 16y ago
  Uhh MA is going bankrupt and hemorrhaging money on its healthcare system. Who knows how long it will last.
  - MichaelSalib 16y ago
    Do you have a cite? I ask because I believe the growth of health care costs in MA over the last year has been lower than in other comparable states. I believe the consensus amongst health care economists is that MA made the right choice in pushing for universality first and tackling cost growth later. And that's exactly what they're doing: MA has now started some very aggressive cost control plans, plans that are much easier to enact because of the regulated exchange and mandates that MA created.
zach 16y ago
Stay in California and get group insurance through the company you're starting up. Here in California, a company of 2-50 employees is guaranteed to be issued a policy for no more than 110% of the premium rate charged to larger companies. There are pre-existing condition limitations for up to the first six months if you have a gap in coverage, but otherwise they can't touch your rates or coverage options. I applied for and managed a two-employee policy from Blue Cross for our company and it all worked fine, apart from the murderous 30%-a-year increases, of course. You still have to apply with medical history and so on, but it's a formality since you will always be accepted and charged the maximum rate.
- awolf 16y ago
  Thanks for the input. If you don't mind me asking: what was the approximate monthly cost for your two person company?
  - zach 16y ago
    No problem. A little over a year ago, we had the Lumenos HSA $1500 individual deductible plan and it cost $300/month for an employee only and about $1000/month total when including a spouse and 2 or more children. It was about due for its annual price hike so it probably costs 150% of that now -- seriously! Yeah, it's kinda depressing... One of us also had dental; its premiums ran 10%-20% of the health insurance. I got it through a local broker because we knew someone who recommended them, but I think you can do it all online too. If you want to compare plans, there are broker sites that will quote small-group rates online but I can't remember which of those I used.
anamax 16y ago
> I am very close to taking the startup plunge but my Type I Diabetes makes it really hard to give up my current (awesome) healthcare. Call your current provider and ask them what they'd charge you if you quit work and wanted to pay on your own. Pre-existing conditions are not an obstacle to getting coverage IF you don't have a break in coverage. Note that you probably want to know how this works even if you don't take the startup plunge - quitting isn't the only way to become unemployed.
mrkurt 16y ago
Assuming you're married, have your wife get a job at some place like Starbucks and use her group plan. As long as you jump from group plan to group plan, the pre-existing stuff won't matter. I would never, ever go to an individual plan if I were you. How much does it cost to treat Type 1 Diabetes anyway?
- awolf 16y ago
  If you mean with my current co-pays: $60 /mo for co-pays $15 /mo for doctor visits $40 /mo ~ for misc (lab tests, new equipment) But as I'm still pretty young it only gets more expensive from here...

by awolf 16y ago

eru 16y ago

Have you thought about moving to Britain? The National Health Service may cover you.

awolf 16y ago
I have considered this as well as moving to Canada (I'm a dual US and Canadian citizen). In both cases this would be a lapse in my US coverage so there would be no going back to the way things were before moving.
- eru 16y ago
  Seems to be a lock-in.

MichaelSalib 16y ago

Move to Massachusetts. I'm serious. MA has a regulated health insurance exchange. You can compare plans on the exchange website; plans as well as premium increases have to be approved by the exchange administrator. So if an insurance company decides to raise premiums by 80%, they'll be kicked off the exchange. Plus, in MA it is illegal to refuse coverage for pre-existing conditions. They can't even vary the price based on factors other than age/gender/location and maybe smoking. Check out https://www.mahealthconnector.org/portal/site/connector/menuitem.0c5d8e0f63bf313ea6c05667d6468a0c/?fiShown=default https://www.mahealthconnector.org/portal/site/connector/menu... to see for yourself. On the down side, you have to have insurance or pay a big fine every year. And healthcare, just like everything else in MA is expensive. But probably cheaper than CA.

sitmaster 16y ago
Uhh MA is going bankrupt and hemorrhaging money on its healthcare system. Who knows how long it will last.
- MichaelSalib 16y ago
  Do you have a cite? I ask because I believe the growth of health care costs in MA over the last year has been lower than in other comparable states. I believe the consensus amongst health care economists is that MA made the right choice in pushing for universality first and tackling cost growth later. And that's exactly what they're doing: MA has now started some very aggressive cost control plans, plans that are much easier to enact because of the regulated exchange and mandates that MA created.

zach 16y ago

Stay in California and get group insurance through the company you're starting up. Here in California, a company of 2-50 employees is guaranteed to be issued a policy for no more than 110% of the premium rate charged to larger companies. There are pre-existing condition limitations for up to the first six months if you have a gap in coverage, but otherwise they can't touch your rates or coverage options. I applied for and managed a two-employee policy from Blue Cross for our company and it all worked fine, apart from the murderous 30%-a-year increases, of course. You still have to apply with medical history and so on, but it's a formality since you will always be accepted and charged the maximum rate.

awolf 16y ago
Thanks for the input. If you don't mind me asking: what was the approximate monthly cost for your two person company?
- zach 16y ago
  No problem. A little over a year ago, we had the Lumenos HSA $1500 individual deductible plan and it cost $300/month for an employee only and about $1000/month total when including a spouse and 2 or more children. It was about due for its annual price hike so it probably costs 150% of that now -- seriously! Yeah, it's kinda depressing... One of us also had dental; its premiums ran 10%-20% of the health insurance. I got it through a local broker because we knew someone who recommended them, but I think you can do it all online too. If you want to compare plans, there are broker sites that will quote small-group rates online but I can't remember which of those I used.

anamax 16y ago

> I am very close to taking the startup plunge but my Type I Diabetes makes it really hard to give up my current (awesome) healthcare. Call your current provider and ask them what they'd charge you if you quit work and wanted to pay on your own. Pre-existing conditions are not an obstacle to getting coverage IF you don't have a break in coverage. Note that you probably want to know how this works even if you don't take the startup plunge - quitting isn't the only way to become unemployed.

mrkurt 16y ago

Assuming you're married, have your wife get a job at some place like Starbucks and use her group plan. As long as you jump from group plan to group plan, the pre-existing stuff won't matter. I would never, ever go to an individual plan if I were you. How much does it cost to treat Type 1 Diabetes anyway?

awolf 16y ago
If you mean with my current co-pays: $60 /mo for co-pays $15 /mo for doctor visits $40 /mo ~ for misc (lab tests, new equipment) But as I'm still pretty young it only gets more expensive from here...