The Affordable Care Act and Startups
Carl Niedbala
COO & Co-Founder
COO & Co-Founder
With the recent launch of fresh government programs under the Affordable Care Act, the landscape is changing massively in the health insurance space. We can’t help but think about what effects the new healthcare laws will have on startups.
This article makes a great argument that the recent changes will only grow the startup community. Here’s why:
What draws people towards big corporate jobs? Most would be willing to bet it’s the security factor. People generally want security/consistency and will sacrifice pursuing their dreams to attain it. And can you blame them? Most of the workforce has a family to provide for, and the thought of not being able to do so is absolutely terrifying!
These standard jobs are “secure” because they provide health benefits, which are too expensive for most people to afford. At least too expensive to get actual coverage. Maybe some plans are affordable, but they’d still leave policyholders footing the bill in many situations.
With the new health insurance markets, carriers can no longer discriminate in ways they used to (denial of coverage for pre-existing conditions, for example), giving access to better plans to more people. And what does that mean for startup world? More entrepreneurs. Why? Because that population of corporate employees looking for security doesn’t have to look to their corporate “sponsors” anymore. Health benefits will be attainable for many people like never before, giving more people the courage to branch out and start their own company.
In fact, a paper written by Georgetown University’s Health Policy Institute estimates that 1.5 million people will become self-employed after the law takes full effect. Looks like we’re going to need more co-working spaces!
If you’re curious about how the health care laws effect you and your company or about the new coverage options out there, just reach out to a member of our team by phone 646.854.1058 or email info@foundershield.com at any time to learn more. We have an amazing partner in the space that we’d love to introduce you to! (Hint: it’s our friends at Igloo Health)
Have you ever wondered how you can save money on your group health insurance plan? Ever wanted to find a way around paying those high premiums and save your company money? Well, Igloo Health is here to guide you through the process of medical underwriting in the current marketplace.
What is a BOR? It’s your “Broker Of Record.” This is an insurance industry term that many people don’t know about, but it could be the most important thing to learn as a business owner. Understanding what a BOR does (and what they can’t do) can give you peace of mind. Have you ever been promised
What if we told you that the price you pay for your monthly premiums wasn’t the most important thing to pay attention to when choosing health plans? That might sound a little crazy but the reality is that there are critical factors to look into besides premium. Ever wonder why you were stuck with a
A lot of people will tell you how happy they are with their current health and benefits broker and rave about how fantastic of a job they’re doing. Still the question remains: “is he really doing the best job he possibly can?” These same people will claim how their broker is the nicest guy in
Most business owners don’t take the time to factor in the fluctuating costs of health insurance renewals. Luckily, we’re here to think ahead for you. In the past, renewal pricing has been pretty standard across all states and carriers, with an average bump of about 5% or so. Unfortunately since Obamacare, that’s not the case. As
Is it possible to change employee health insurance mid-term? It’s one of the most common questions I hear. Most people assume that once you sign a healthcare contract, you’re locked into that plan for the next 12 months. Well, I’ve come bearing good news: that’s not necessarily true. Actually, switching healthcare plans during the term year