They have plans as low as $90/quarter that have a $5k deductible. Not good if you come down with frequent colds, coughs, flu, etc. It is good if you're in a car accident and fracture your leg in 2-3 places. Or slip on ice and hit your head, etc.
ACM: http://www.acm.org/membership/insurance
IEEE: http://www.ieee.org/web/membership/financial-advantage/insur...
He advised us to take our (start up wages) and buy catastrophic disaster insurance. Or relax, because our car insurance also covers medical bills, so if we're in a car accident (most likely scenario) we're covered.
[He then also told us (off the clock, and again this was 2004) that if we voted for John Kerry, the health care reform would put our company out of business. ]
But yes, in the past 5 years they could've gone away.