Mineral Wells Index, Mineral Wells, TX

Community News Network

January 28, 2013

Don't have health insurance? Start your own insurance company

(Continued)

NEW YORK —

Horowitz began by forming the nonprofit Freelancers Union in 2003. It shared information, nurtured freelancer networking, and began the process of building solidarity. But she quickly saw that, for independent contractors who don't get coverage through their employers, obtaining affordable health insurance was the truly pressing issue.

Her first instinct was to deal with existing insurance companies to get her group a better rate. But at a certain point she decided the plans that were already out there didn't fit freelancers' needs and didn't account for their unique circumstances. So why not invent an insurance company of her own? "It was an audacious idea," chuckles Nancy Barrand of the Robert Woods Johnson foundation, which helped provide funding to get Horowitz's project off the ground. "People don't just start insurance companies in this day and age. She had to raise $10 million in reserves to qualify for an insurance license in New York. But she'd been negotiating with insurance companies, she knew the market, she'd seen the data on costs and benefits, and she realized, 'I can make it work better. I can be more efficient. I can do it myself.' "

The Freelancers Insurance Company launched in New York in 2008. It is wholly owned by the Freelancers Union and has no individual shareholders. In its first year, FIC lost money and had to raise rates. But by its second year, it was profitable. It has been profitable ever since. At a time when other insurance providers are seeking and winning double-digit rate increases, FIC has managed to freeze its premiums for the coming year. (Disclosure: I signed on for FIC health coverage last year. So far, so good.)

Sitting at her desk in a low-profile office in Brooklyn's DUMBO neighborhood, Horowitz described to me a three-step process for turning a notion into a reality. It boils down to: 1) Find the North Star that guides your mission. 2) Practice poking holes in your business model until you're certain it will actually work. 3) Find people who understand the concept of loyalty.

Text Only
Community News Network
  • Screen Shot 2014-07-31 at 2.12.55 PM.png VIDEO: Five-year-old doesn't want her brother to grow up

    Sadie, an adorable 5-year-old from Phoenix, wants her brother to stay young forever, so much so that her emotional reaction to the thought of him getting older has drawn more than 10 million views on YouTube.

    July 31, 2014 1 Photo

  • The virtues of lying

    Two computational scientists set out recently to simulate the effects of lying in a virtual human population. Their results, published in the Proceedings of the Royal Society B, show that lying is essential for the growth of a cohesive social network.

    July 31, 2014

  • Survey results in legislation to battle sexual assault on campus

    Missouri U.S. Sen. Claire McCaskill joined a bipartisan group of senators Wednesday to announce legislation that aims to reduce the number of sexual assaults on college campuses.

    July 30, 2014

  • An alarming threat to airlines that no one's talking about

    It's been an abysmal year for the flying public. Planes have crashed in bad weather, disappeared over the Indian Ocean and tragically crossed paths with anti-aircraft missiles over Ukraine.

    July 30, 2014

  • Sharknado.jpg Sharknado 2 set to attack viewers tonight

    In the face of another "Sharknado" TV movie (the even-more-inane "Sharknado 2: The Second One," premiering Wednesday night on Syfy), there isn't much for a critic to say except to echo what the characters themselves so frequently scream when confronted by a great white shark spinning toward them in a funnel cloud:
    "LOOK OUT!!"

    July 30, 2014 1 Photo

  • Can black women have it all?

    In a powerful new essay for the National Journal, my friend Michel Martin makes a compelling case for why we need to continue the having-it-all conversation.

    July 29, 2014

  • How spy agencies keep their 'toys' from law enforcement

    A little over a decade ago, federal prosecutors used keystroke logging software to steal the encryption password of an alleged New Jersey mobster, Nicodemo Scarfo Jr., so they could get evidence from his computer to be used at his trial.

    July 25, 2014

  • 072214 Diamond Llama 1.jpg Llama on the loose corralled in Missouri town

    A llama on the lam cruised Main Street Tuesday before it mistook a resident’s fenced backyard for a place to grab a meal and freshen up.

    July 22, 2014 2 Photos

  • Wal-Mart to cut prices more aggressively in back-to-school push

    Wal-Mart Stores plans to cut prices more aggressively during this year's back-to-school season and will add inventory to its online store as the chain battles retailers for student spending.

    July 21, 2014

  • The terrible history of passenger planes getting shot out of the sky

    What is more clear is that, if initial reports are true, this would be the deadliest incident of a civilian passenger plane being shot down in modern memory. In some instances, the causes of the disaster are still shrouded in mystery. Here are some of the worst events.

    July 17, 2014

Featured Ads
Poll

Would you be in favor of or opposed to housing at the closed CCA facility at Wolters Industrial Park some of the unaccompanied children who have crossed illegally into the U.S. and Texas?

In favor
Opposed
Not sure/undecided
Don't care
     View Results
Mineral Wells Index


Click on a photo to visit our SmugMug page

Front page
Weather Underground Radar
Twitter Updates
Follow us on twitter
AP Video
Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Rescuers at Taiwan Explosion Scene Raw: Woman Who Faced Death Over Faith in N.H. Clinton Before 9-11: Could Have Killed Bin Laden Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction Malaysian PM: Stop Fighting in Ukraine Cantor Warns of Instability, Terror in Farewell Ravens' Ray Rice: 'I Made a Huge Mistake' Florida Panther Rebound Upsets Ranchers Small Plane Crash in San Diego Parking Lot Busy Franco's Not Afraid of Overexposure Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN
Must Read
Seasonal Content
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Stocks
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide