Aspiring entrepreneurs in Ohio will soon have a new reason to consider striking out on their own. On Jan. 1, 2014, provisions of the healthcare law go into effect that will allow Ohioans who previously stayed at their jobs solely for health coverage to start their own business. This phenomenon, known as "job lock," costs Ohio's economy startup opportunities and job growth. In fact, Ohio is expected to gain an estimated 67,000 new self-employment jobs next year when the new provisions are in place, according to a report released by Urban Institute and Georgetown University.
Job lock is a major obstacle to entrepreneurship in Ohio and across the country. According to Small Business Majority's research, roughly one in 16 workers insured by their employer suffers from job lock. The healthcare law will ensure all Ohioans, including those with pre-existing conditions, have access to affordable coverage.
America prides itself on being the land of entrepreneurialism, yet the act of denying people coverage for a pre-existing condition discourages that tradition. When someone has a great idea or invention and wants to put it into action, but is forced to stay in their current job to keep health benefits, the potential for a new business flies out the window. We're excited to see what comes out of Ohio when this unfortunate reality is a thing of the past.
Ohio Outreach Manager, Small Business Majority