I have everything pretty much ready to launch full time. Time, skills, customers, support from family. But I’d leave my current job behind and with it my family’s health insurance for the foreseeable future. I can’t afford any of the options I’ve seen. It’s the one thing holding me back. Any ideas for affordable health insurance for startups? If you’ve been in the same situation, what did you end up doing?
A couple of notes on COBRA, the cost is because you’re (usually) losing the amount your employer pays toward health insurance, plus the administrator charges a percent on top to administer the program. So the cost will definitely depend on which plan you already have and how much the employer pays.
With COBRA you’ll be locked into your current plan, but should have the opportunity to change plans when the employer goes through annual/open enrollment.
Another thing to note is that you’ll keep access to any HSA accounts you have (this is money you and/or your employer has put in an account.). You will lose access to any FSA balance you have, unless you elect it while electing COBRA.