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by yummyfajitas 5444 days ago
These people either don't intend on being profitable in the next 18 months or else they didn't do their research.

If you quit your job, COBRA allows you to continue to pay 101% of the group rates for 18 months and keep your old insurance.
2 comments
mgkimsal 5444 days ago
Not everyone can afford the short term hit of paying 3-4X what they're paying now for their health insurance. If your monthly group policy is $1200/month for your family, but the employer's paying $800 of that, and you're only paying $400, you'll get quite a shock when the COBRA bill comes.
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yummyfajitas 5444 days ago
No one has to pay 3-4X what they're paying now for their health insurance. They have to pay 101%.

It's possible that they didn't understand the nature of their compensation, and mistakenly believed their compensation was lower than it was. But in that case, I'd suggest they simply failed at financial planning.

(Note: if you can't do proper financial planning, don't do a startup.)

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nvarsj 5444 days ago
COBRA can be expensive. At my last job, my premium was around 60/month. When I quit, COBRA payments were 750/month. This was before kids.
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