Health insurance for freelancers is in demand because as of 2018, independent workers constitute one-third of the US population and that number is steadily growing. By 2027, it is projected that half of the country's workforce won't be within the traditional framework of employment. Recognizing this need, Sara Horowitz launches Trupo which is an affordable health provider that operates under the Freelancers Union in America.
The start-up offers individuals short term disability insurance at an accessible rate. Its monthly plans start at $11 USD and allow independent workers flexibility and stability if they fall ill or hurt themselves. Trupo provides coverage for injuries, serious illnesses, mental health challenges, as well as hospital stays. The company is deemed to be the "first-of-its-kind" health insurance for freelancers since most short-term disability plans are "only accessible through group plans offered by employers."
What's Driving This Trend
- Rise of Independent Workers
- The increasing number of independent workers presents an opportunity for innovative insurance solutions.
- Affordable Health Insurance for Freelancers
- The demand for affordable health insurance for freelancers creates a market for disruptive insurance providers.
- Flexibility and Stability for Independent Workers
- Providing flexible and stable insurance plans for independent workers can revolutionize the insurance industry.
Who This Affects Most
- Insurance
- The insurance industry can adapt to cater to the needs of the growing independent worker population.
- Freelance Platforms
- Freelance platforms can partner with insurance providers to offer integrated insurance solutions to their users.
- Healthcare
- The healthcare industry can explore new models of insurance coverage to accommodate the unique needs of freelancers.
