Prominent Philanthropies and Businesses Join Freelancers Union to
Pioneer New Health Insurance Model
The Rockefeller Foundation, New York State Health Foundation, Ford
Foundation, New York City Investment Fund, Prudential Social Investment
Program and the Pioneer Portfolio of the Robert Wood Johnson Foundation
Among Investors to Join Leading Advocate for Independent Workers to
Launch Freelancers Insurance Company
New Safety Net Created for One-Third of America’s Workforce
NEW YORK (Business Wire EON/PRWEB ) December 8, 2008 --
With layoffs on Wall Street and in the corporate sector putting health
insurance front and center in the national debate, a group of the
country’s leading philanthropies and businesses has joined together with
Freelancers Union, a national non-profit organization, to pioneer a new
model for providing health insurance to independent workers. Rockefeller
Foundation, New York State Health Foundation (NYSHealth), Ford
Foundation, New York City Investment Fund, Prudential Social Investment
Program, the Pioneer Portfolio of the Robert Wood Johnson Foundation and
others, along with Freelancers Union, have contributed a pool of $17
million, in the form of grants and loans, to launch Freelancers
Insurance Company, Inc. (FIC), which will offer new and innovative and
flexible health insurance plans for eligible independent workers -
initially in the New York area, but eventually spreading to other
locations as well.
Freelancers Union has offered health insurance plans to members
previously, but those were commercial plans operated by traditional
carriers. As a freestanding insurance company, FIC enables members to
select plans that are custom designed based on their needs, as opposed
to buying whatever plans happen to be commercially available and may be
subject to cancellation based on the insurer’s financial reasoning. FIC
offers five health insurance plans that have been approved by the New
York State Insurance Department. The philanthropic investors have taken
an entrepreneurial approach to support the nation’s evolving workforce
and provided significant support to make the launch of FIC possible.
“As more and more people take on non-traditional work arrangements, they
need a new way to come together for the benefits customarily delivered
through employers, including health insurance. Through the Portable
Benefits Network, Freelancers Union has successfully provided benefits
attached to the individual, rather than the employer, to thousands of
previously uninsured workers, for the past eight years,” said Sara
Horowitz, executive director of Freelancers Union. “We are overjoyed
about the launch of Freelancers Insurance Company because of the
flexibility it affords us in customizing health insurance plans, now
that we are not at the whim of the insurer. This is one giant step in a
long, thoughtful effort to create a new safety net for the nation’s
independent workforce.”
“As part of the Governor’s Partnership for Coverage, we have been
working on significant reforms to make quality, affordable health
insurance available to all New Yorkers,” said Insurance Superintendent
Eric Dinallo. “As these broad reforms continue to be developed and
implemented, Freelancers Insurance Company offers the promise of a
lower-cost health insurance alternative for independent workers right
here, right now. We look forward to continue working with Freelancers as
this exciting experiment unfolds.”
The more than 19,000 New York-based people who are currently insured by
Empire BlueCross BlueShield through Freelancers Union have been provided
with information to participate in open enrollment, which began on
November 11, 2008 and will end on December 31, 2008. Thus far, the rate
at which members are enrolling under the new plans is outpacing previous
enrollment periods for Freelancers Union. The carrier switch to FIC will
be seamless and while members will be provided with new cards and
improved plans, they will be able to continue to use their current
doctors and health care providers under the BlueCard PPO® provider
network. As membership increases and the organization continues to
evolve, FIC will annually survey its members on their needs to ensure
that the benefit offerings remain suitable for this growing constituency
group. The independent workforce, defined as freelancers, consultants,
independent contractors, temps, part-timers, contract workers,
contingent employees and the self-employed, is currently comprised of
more than 30 million workers across the nation.
“The Rockefeller Foundation is proud to support the groundbreaking work
of the Freelancers Union as a part of its $70 million Campaign for
American Workers,” said Judith Rodin, president of the Foundation. “As
the 20th century’s social contract frays, independent workers
– contractors and freelancers who comprise almost one-third of America’s
workforce – need new tools and rules to help them access high-quality,
affordable health care. The Freelancers Union is pioneering these
solutions and helping to weave a 21st century economic safety
net.”
“Viable ideas for expanding health insurance coverage are rare; this
initiative is an excellent example of innovation that could spread
insurance coverage to thousands of workers statewide,” said NYSHealth
President and CEO James R. Knickman. “The New York State Health
Foundation has its roots in earlier efforts to make health care more
affordable and accessible, and we are committed to reducing the number
of uninsured through initiatives like this one.”
At the present time, FIC offerings are only available to eligible
independent workers in the New York metropolitan area. However,
Freelancers Union offers health insurance to independent workers in 30
additional states through Golden Rule, and dental insurance in all 50
states through The Guardian Life Insurance Company of America.
Freelancers Union is currently identifying additional states in which it
may launch the Freelancers Insurance Company model. Freelancers Union
has more than 93,000 members nationwide. In addition to insurance and
benefits packages, members enjoy professional discounts, networking
opportunities, educational workshops and advocacy initiatives to improve
the political and economic climate for this growing sector of the
workforce.
For further information on Freelancers Insurance Company, eligibility
requirements and the specific plans offered, visit www.freelancersinsuranceco.com.
For further information on Freelancers Union, visit www.freelancersunion.org
Following is a list of Web site addresses for each of the philanthropies
or businesses that have made contributions to make the launch of
Freelancers Insurance Company, Inc. possible:
The Rockefeller Foundation: www.rockfound.org
New York State Health Foundation: www.nyshealthfoundation.org
Ford Foundation: www.fordfound.org
New York City Investment Fund: www.nycif.org
Prudential Social Investment Program: www.prudential.com
The Pioneer Portfolio of the Robert Wood Johnson Foundation: www.rwjf.org/pioneer/
See the original story at: http://eon.businesswire.com/releases/freelancers_union/new_york/prweb1722864.htm
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