The time is now. The economy is changing- ever so slightly. But, the reality is that the American Dream is being shattered- the only way you can make that come true for yourself is to start your own business.
A quarter century or so ago, most new ventures were started by younger folks. Nowadays, more of them are started by those in their 40s and 50s. But, the reality is that one’s age is not as critical as one’s ideas and one’s execution.
Of course, as one gets older, s/he typically has a spouse and a family. So, starting out on one’s own gets far more difficult. Until now. Because the PPACA/ACA/Obamacare (your choice of name- they all describe the same Act) means we no longer have to sacrifice health care to start our companies.
Most (ok, almost all) Americans get their health care covered by their employers. So, starting one’s own company typically meant fending for oneself on the open health care market- where pre-existing conditions, ratings, etc. could yield a price beyond one’s means. Especially for a startup environment.
But, Obamacare has affordable health insurance for individuals and companies. And, all insurance is no longer predicated on pre-existing conditions, and the like. So, the costs are well defined and affordable. (I just checked the rates for me- as an individual and for my company. Both ways, my monthly fees are slashed in HALF for virtually the same insurance that we currently maintain- with the same vendor!)
[Aside] Oh, I know you’ve heard about all those cancellations. Those were for “insurances” that really provided no benefits. They were equivalent to those bonds folks make with their states to obtain “minimum” insurance, letting them drive their cars. The problem is when they hit someone, that someone got shafted, and the insured had to pay for the damages to his/her car by himself. (I’m not saying some folks are not paying more- there will be about 5 or 10% paying more, but more than half will be paying less. There are trade-offs; the greater good prevails.)
And, if you are a startup, you won’t be required to provide insurance for your employees- at least if you don’t grow to more than 50 employees right away. But, whether you tell these new folks to insure themselves on the exchange- and you pay them a little more- or you get small business insurance (that’s my vote) with a subsidy if your average pay is $ 50K or less- you can feel secure that folks (and you) can take the risk, knowing they won’t leave their family at a health risk.
So, when will YOU be starting your venture?
(You knew there would be a plug, right? We- at the Adjuvancy- can help you set up your venture, help you decide what structure-financial and managerial management-reporting systems, and help you stay focused on your goals to insure your vision become a reality.)
(Oh, and I have a short book that lets you determine the ins-and-outs of Obamacare. You can’t beat the price at $ 2.99 – and, if you are already in business, you may find that you are already entitled to a tax credit!)
Learn the ins and outs of Obamacare with this… http://t.co/EBN6ul0bJp
Unfortunately, we are in the 5-10% of those whose premium goes up. Both my husband and I own our businesses and NH only has one health insurance carrier, which is Anthem, and our options are pretty limited.
Suerae…
There are solutions for you- seriously. I think I have your email and will discuss them with your privately.
It is not as it seems- at least, not the way I understand the programs.
Well, i started my own company a few years ago and I haven’t looked back. That said, this side of the pond you don’t have to have private healthcare, which helps a lot!
Muriel recently posted..TEAL: Get Your Mediterranean Fix In London!
Absolutely, Muriel.
On your side of the pond, that is never an issue that would restrain folks from abandoning their employer and starting their own venture. Which is the point- now, it shouldn’t stop anyone on this side of the pond, since insurance can now be obtained; before, it could be a real issue for individuals to obtain their own health insurance.
When will you set up your own business? Why don’t you do it now? http://t.co/jGIvwc6OZX
You know it never occurred to me that health care could stop someone from starting a business! Interesting observation!
Now that businesses are being started by older folks, the concept of leaving one’s employer- with its benefits- is the biggest impediment to those planning their own venture, Alessa. When it was 20-somethings, that was less of an issue.
You are always so encouraging. I know your economy is on the up. I pay and extra 10% now for all my US imports – and there are many from the small businesses that you describe!!
Carol Tomany recently posted..Caveat Emptor
Well, from what I can tell, Carol- it’s not a bad time to start your business in Canada, either. My Canadian clients are reporting business is picking up, as well.
Thanks for the visit and comment.
#small business
I like http://t.co/89ZVbDMi0z
Insurance affordable Now! http://t.co/VrCr0HU2Y2
I haven’t been able to get through to the Government website, but I did get an application done over the phone. I was very worried about losing my high risk pool insurance starting in Jan, but they have extended it until the end of March. Hopefully by then. . .
Ann Mullen recently posted..Senior Care Tip (from a TV ad): You Don’t Have to Be Lonely
I’m sorry you haven’t gotten through. You should try it now. If that doesn’t work, check out my Obamacare page (http://raackerman.blogspot.com/2013/11/obamacare-what-small-business-needs-to.html), which has great advice for small businesses- and two links for individuals (the self-employed). They should work fine for you.