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Prominent Philanthropies and Businesses Join Freelancers Union to Pioneer New Health Insurance Model
Date:12/8/2008

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) December 8, 2008 -- NEW YORK (Business Wire EON) 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. T
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