Healthcare is Holding U.S. Entrepreneurs Back
I’m a recent Stanford grad, and in October I became a FT consultant to follow my entrepreneurial dreams.
What “they” (who is “they” anyways?) don’t tell you about being an entrepreneur is that you’ll spend a shit ton of time obsessing over INSURANCE. Not VC money, press or hiring — FUCKING INSURANCE. Sorry YCombinator, FastCo and Gary Vaynerchuk. My problem isn’t a lack of grit or drive. IT IS HEALTHCARE.
Here’s my story:
— -MARCH — -
For instance, if your payments get messed up to your insurance provider (Molina Healthcare), your coverage will be terminated within 10 days. You will receive a letter that your coverage has been terminated about a week after the end of the grace period. Happy Easter, no insurance for you!
— -APRIL — -
Molina Healthcare will then refund ALL of your insurance premiums to date, which will take 2–3 months to arrive ($800). You’ll file an appeal, and in order to be reinstated, will have to pay the $800 back. While waiting for your refund. So now you’re out $1,600 and still haven’t refilled your meds.
— -MAY — —
You get new insurance cards in the mail — yippee you have insurance! Until you get a letter stating that your coverage has been terminated? Turns out, the “American Insurance Marketplace” didn’t send #Form834 to Molina, so you don’t have coverage! Even though you have new insurance cards! Better cancel your afternoon calls, bc you get to call Molina Healthcare!
— -The SCARY FUTURE — -
So, now, $2,000 ($1600 + premiums) of my money is floating around and MAY show up in 30–45 business days. I technically haven’t had insurance since May 10.
I get to file another appeal, and I’ll be calling the insurance marketplace and Molina everyday — but even when everything is #resolved I’ll still be breathing into a paper bag. Will my appeal be accepted? Will I get a new insurance plan? YES, BECAUSE I AM SUPER ANNOYING AND WILL CALL EVERY DAMN DAY.
As an entrpreneur, “they’ don’t tell you that in ADDITION to battling inner demons of doubt, fear and inadequacy you will lie awake at night wondering what the hell you’re going to do if you should need medical care. And how your GENERIC meds cost $250 — $500 at Walgreens.
THIS. SHIT. IS. BROKEN.
This is why “successful” entrepreneurs are the ones with safety nets, because if I wasn’t living at home, you bet your ass I’d be getting a 9–5 with insurance. Hell, I still may have to do that. People are afraid to take the leap to run their FT business, bc insurance is such a nightmare.
What’s going on Orrin Hatch? I know you’re working on a new healthcare bill? Interested in fixing this shit?
So GONNA BE MY OWN MR. INCREDIBLE AND GET THIS SHIT FIXED. Your positive vibes and envisioning me getting my Cymbalta filled with insurance is appreciated. Not sharing this to put bad vibes out there, but because the individual stories behind healthcare are lost, because this goes against the “successful entrepreneur mold.”