“I just can’t afford it…it’s too big a risk.”
One of the biggest complaints I hear from people about not starting a company, who otherwise have the skill, ambition, and desire to, is the fear of losing health insurance.
If you have a family, it feels reckless and dangerous to go without health insurance for you and your children. And even if it’s just you, you’re still one car accident, one bad tackle, bike crash, or another surprise medical event from disaster.
Yet, the other side is just as bad. Who can afford to start a company and pay $20,000+ annually in premiums alone to insure your family, all before you cover your co-pays, a massive deductible, and an even higher “max out of pocket” amount if anything bad happens?
That’s why I think it’s so helpful and important to know about a real, viable alternative I found.
Something that can save you literally 3-5X over the cost of your health insurance, and that I know really works, because I’ve used it for 3 years now and have been convincing many friends and family to use it, too.
CrowdHealth: An answer to your health care prayers.
You’ve probably never heard of CrowdHealth, and that’s okay. I didn’t know what they were either until I was at a Bitcoin meetup and the CEO was on a panel talking about sovereign health and how you can opt out of the corrupt, bloated, overpriced health care system.
Who wants to pay for this kind of inflation?
At first I was skeptical. This seemed a bit too good. However, when I really looked into it, the model just made so much sense.
Instead of complicated, confusing, overpriced health insurance with networks, CrowdHealth operates with a simple model:
- For each health incident, you pay the first $500. The crowd pays for the rest.
- Each month you pay a membership fee and fund other people’s health incidents. The total for these two are wayyy lower than your health premiums. (< $200/month per person who is under 55)
- You can go to any doctor you choose, so no worries about being “in-network”
- When you have a major procedure (like a surgery), they have on staff negotiators who will drastically reduce the price before you even walk into the hospital.
But wait, there’s a catch, isn’t there?
Only a couple small ones, that if you think about how a system like this works, they make sense:
- Babies: They love babies, but you have to pay $3,000 before they cover the rest for births/”maternity events.”
- Fertility: I can understand if this one stings, but they don’t cover IVF or other fertility treatments. You’re on your own if that’s a struggle for you.
- Pre-existing conditions: If you’re diabetic, or have another chronic disease, they’re not covered by CrowdHealth, so you’re ineligible to join if that’s the case.
- Health: You cannot be obese (e.g., over 260 lbs for women, 300 lbs for men), nor can you be a smoker.
- Some states: As stated on their site, CrowdHealth does NOT meet state coverage mandates from states like California, District of Columbia, Massachusetts, New Jersey, Rhode Island, and Vermont. As they write, in those cases: “You are responsible for securing that coverage independently from your CrowdHealth Membership.“
What this really is doing is looking at the current health care market and saying:
- If you’re fit and healthy, you shouldn’t have to pay so much for so little care.
- One person stands no chance of negotiating effectively with hospitals and big health care systems, but experts can be employed by a large group and get reasonable prices for every member.
If you’re like a lot of fit, healthy founders I know, this is a great deal.
Instead of paying $20,000+ a year for garbage health care and needing to keep another $10,000 (or more) on hand for a health emergency (i.e.- your “max out of pocket” or “deductible”), you know you can do the same for about $6,000 a year for your family, and only need $500 on hand for each health emergency.
That’s a lot of saved money and peace of mind. All from a company where my rates have gone down every year since I joined.
But wait, there’s more: Preventative care, too.
Now, everything I outlined is already enough to have made me jump and never look back. But I didn’t get to the awesome, new perks they’ve been adding recently that really make this a no-brainer for many solo founders and healthy families:
- Free telehealth calls: Need a prescription refill or have a basic condition a doctor can evaluate over Zoom? Crowdhealth partners with a company that will do this, and CrowdHealth reimburses you for them. No $500 out of pocket first in this case.
- Wellness investments: You get $300 a year to invest in your health and wellness. My girlfriend used it for a teeth cleaning. You can also use it for your annual physical, gynecological exam and labs, a vision exam, and more; just ask your advocate (who you can text questions to any time!) and they’ll let you know what’s acceptable.
- Health partnerships: Each quarter they’re featuring new health care options that they partner with to get you free or discounted access like a full body DEXA scan (I got one for free in Q1), or a Tiny Health gut microbiome test (my girlfriend got $100 off her test in Q2).
Imagine that. A health care company that actually helps invest in you being at your best, all at a price that feels like a real bargain.
But does it really work?
Now, I know what some of your are thinking: This sounds great, but what if they reject my medical need? Could I be stuck with the whole bill?
Unlike some of the religious health care communities like this that have had some horror stories about what they’ve failed to cover (like this John Oliver rant about them), CrowdHealth so far has been very straightforward with what they do and do not accept, while staying scandal free.
And after my ankle went sideways playing soccer (a severe sprain that knocked me off the field for 4 months), I can attest to the whole system working quite smoothly. Here’s how it went down:
- I sprained my ankle badly. My foot was a balloon immediately.
- I go to urgent care to get an X-ray. Bad sprain, no break, thankfully.
- I create the health care event in the CrowdHealth app while on my way to the urgent care, then immediately upload a picture of the bill.
- They get in touch over text message, confirming the obvious that it was a new injury, and approved the incident.
- I chose the physical therapist (PT) I wanted based on my desire for one with sports experience and close to my home.
- The PT designed a two session per week rehab program. I submitted the bills as I went to them for service.
- As soon as I hit the $500 mark in total for this injury (x-rays, urgent care, and PT all counted together), CrowdHealth started sending me checks weekly to cover the new invoices each week of therapy (note: I did pay up front for each session before getting reimbursed in full).
Best of all, I wasn’t limited by the health insurance company telling me how long I needed rehab. My Physical Therapist and I did that, and CrowdHealth covered me until I was fully rehabbed and back on the soccer field, which took months of hard work.
And since then, I’ve used it for a free DEXA Scan, blood work, and most recently I’ve started some rehab on a nerve issue in my shoulder.
Meanwhile, every month I get an email from them showing what the crowd (including me) is funding in the community:
Imagine Blue Cross Blue Shield having this kind of transparency…
Still not sure? I had questions, too.
I was very nervous before I signed up. It sounded too good to be true, and I was worried about paying in and then not getting help when I needed it.
Thankfully, you can schedule a free call (click “Talk to an Expert”) before you sign up to get all your questions answered. I peppered them with questions and hypotheticals both on my call, and in follow up emails after. Every step of the way they had great answers for each one, often pointing me to links and stories to back them up.
That’s when I knew I was ready to join, and would be happier than I was with my pricey, low-coverage health insurance I was on.
3 years later, I’ve referred many friends to join, and continue to benefit from their service. And that’s why I wrote this post today, so more people know to consider this option.
The Bottom Line: CrowdHealth could make your startup dream a reality
While every person and every family’s situation is different, in many cases CrowdHealth is your answer to a painful riddle of how to take the plunge as a founder while making health care a cost you can actually afford.
And best of all, when you sign up you can get the first 3 months for just $99/month per person.
Ready to opt out of the overpriced, frustrating world of health insurance?
You have two options:
- 1) Talk first: Click “Talk to an Expert” to get all your questions and concerns answered.
- 2) Jump right in: Sign up now directly for 3 months at $99/month instead of the regular rate
Either way, you get a better alternative to health insurance at a special price, and can get your free call, by signing up at this link.
(Note: When you sign up, you get the discount for 3 months, and I get a referral fee, so we both win.
So yes, this is an affiliate link, which means I earn a commission if you sign up through this link at no cost to you. I only recommend CrowdHealth, because I’ve been a satisfied member for 3 years and genuinely believe it’s a great solution for healthy founders, especially when you get the 3 months of cost savings on top of everything else.)
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