Does this also work for insurance alternatives that qualify as having insurance on an 8965?
Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
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Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#12todas las experiencia son buenas
http://lesitedudccn.com/ocio/las-mejores-peliculas-de-disney...
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#13How does this reconcile with the current system for more established firms where employers typically contribute a substantial amount towards subsidizing employee healthcare plans? Not to be a downer, but this feels like an offramp from our current system down to an even worse one, one where employers can now substantially cut back on employer contributions towards health insurance. It may be great for your success, b…
We are really focused on providing this as an "on-ramp" for small employers. Providing large employers an "off-ramp" isn't a use case we have seen much interest in. However, there is an interesting historical precedent with retirement plans, which suggests that there can be systemic benefits that come when employees have more control. Pre 1978, employers offered pensions as a retirement benefit, and like health insurance today, they were selected and managed by an employer — and all kinds of bad behavior resulted in this misalignment of the buyer and the beneficiary. 401(k)s were the consumer-driven answer to this, allowing companies to offer tax-free funds that the employee could manage themselves. Since 401(k)s were easier for employers, the number of businesses offering retirement benefits grew significantly, and the number of employees reaping the tax benefits grew as well.
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#14Brave to do a startup when many are agitating to completely get rid of for profit health insurance in the US.
Healthcare is a human right. For-profit health insurance shouldn't exist.
This startup feels like a grift.
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#15Does this also work for insurance alternatives that qualify as having insurance on an 8965?
Are you referring to a health share program? In order to spend your health stipend tax-free, you must be enrolled in a plan that has Minimum Essential Coverage. Paired with an MEC plan, you could pay for medical expenses tax-free as part of a health share.
https://www.healthcare.gov/glossary/minimum-essential-covera...
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#16Brave to do a startup when many are agitating to completely get rid of for profit health insurance in the US.
hopefully this will make the actual costs of private health insurance more clear. right now right-wing media emphasizes the cost of public health insurance, which sort of works because the cost of private health insurance is hidden in the company's balance sheets instead of individuals'.
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#17As someone who has had to shop for health insurance before, how am I supposed to just "buy any insurance I want"? On the private market? That doesn't work for a lot of people. For example, a person who is already pregnant will not be able to simply buy health insurance, because nobody sells it.
IIUC, there’s no denying coverage for any reason during open enrollment. Are you referring to applying to get insurance mid year? If so you’re likely out of luck even if you’re healthy as there’s no mandate to force selling it to you.
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#18Oh wonderful - more for-profit exploitation of people's need for healthcare. This business model is only possible because of deregulation by our current Federal Government. I hate to sound mean, but I really hope that this business fails. I know people worked hard on this with an expectation of a financial return, but 68,000 people die every year because of this illusion of choice being exploited here, and if we can…
> I hate to sound mean, but I really hope that this business fails. I feel bad saying this, but I'm inclined to agree. Part of the value prop with mid-large businesses subsidizing healthcare is the ability to bargain collectively. Individuals can't do this, and just paying that employer contribution to individual subscribers for them to find their own healthcare plan will result in net-negative benefits year over yea…
You guys keep saying you hate saying this and feel bad saying this, yet you've each posted repeatedly and your comments already make up a third of the thread as I write this. That's because reflexive comments on divisive topics (like healthcare) are the easiest to write and tend to fill up the threads early on.
Let's not have yet another predictable flamewar about U.S. healthcare. It will just turn into the same flamewar as the other flamewars, which is something we try in general to avoid on this site. Meanwhile there's something specific to discuss about this startup's particular model, regardless of where one stands on the brokenness of the overall system.
https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#19So what is this providing over simply cutting a QSEHRA check to your employees?
Seems like it’s complicating something that requires nearly zero paperwork already. Just cut a check and make sure it’s uniformly calculated across your workforce.
Re: Launch HN: Savvy (YC W20) – Give employees tax-free cash for health insurance
#20As someone who has had to shop for health insurance before, how am I supposed to just "buy any insurance I want"? On the private market? That doesn't work for a lot of people. For example, a person who is already pregnant will not be able to simply buy health insurance, because nobody sells it.
IIUC, there’s no denying coverage for any reason during open enrollment. Are you referring to applying to get insurance mid year? If so you’re likely out of luck even if you’re healthy as there’s no mandate to force selling it to you.
FYI, when an employer signs up with Savvy this qualifies as a special enrollment period for all employees. This allows them to enroll in health insurance mid-year.