Best Practices

AKSourceLink: The Affordable Care Act…A friend of Entrepreneurs?

Published Jun 20, 2013 by

There are a lot of uncertainties when venturing out into the entrepreneurial world; success in the market is a huge weight on most shoulders.  However, healthcare coverage is another hurdle, and more often than not, many are unwilling to consider opportunities of self-employment because of this. 

Often times, people feel they cannot leave a job they otherwise would due to losing their healthcare coverage, and are stuck in what is called a “job lock.”  For fear of healthcare denial because of preexisting conditions, unaffordable premiums, or inaccessibility to trusted providers, employees will stay tied to a job even if their skills and abilities aren’t being fully utilized.

Well, the Affordable Care Act just may be a game-changer when it comes to health insurance being a main deterrent for Americans starting up their own businesses.  A new report completed by the Robert Wood Johnson Foundation predicts the Affordable Care Act (ACA) to increase the number of self-employed Americans by 1.5 million.  The reason is because Americans will have easy access to affordable and inclusive healthcare coverage without being tied to working for an employer.  The ACA will not exclude people with pre-existing health conditions, nor cost an arm and a leg for high-quality coverage that includes benefits such as pharmacy, maternity, and mental health.  Health insurance premiums will be based on income and there will be no annual or lifetime caps on the amount of benefits you receive.

As of January 1, 2014, individuals will be able to shop and purchase affordable health insurance on their own via the Health Insurance Marketplace.

For more information on the Affordable Care Act and Health Insurance Marketplace, visit:

http://www.healthcare.gov/law/index.html

 

Content contributed by Leigh Cameron, AKSourceLink.
AKSourceLink is a proud affiliate of
U.S.SourceLink, America’s largest resource network for entrepreneurs.