In the United States, employees’ access to health insurance is often determined by their job classification. The American health care system was made to protect and care for our population’s health, but it has become a maze for consumers and providers. This policy has been in place for a very long time and has created increasingly more problems for modern-day workers since its implementation. This outdated and dysfunctional bureaucracy complicates employment for about one-half of America’s workers and employers while constraining the American economy.
With the rise of non-traditional forms of employment, driven by the rise of the gig economy, the crisis caused by job classifications is preventing workers from receiving the comprehensive health coverage they need. These problems stretch past workers struggling to earn a living. Companies are battling to remain profitable while the government is losing billions in revenue. The only way all workers can receive better benefits is by rewriting the framework of employer-sponsored health care. If workers of all statuses are automatically eligible for high-quality, full-coverage health care, then productivity will boost profitability for both public and private sector entities.
However, companies looking to transform this paradigm must understand why the job classification structure exists. Defining the benefits available to full-time workers compared to independent contractors is important in ensuring that all workers are guaranteed benefits through their employment. Additionally, this framework is made to generate taxable revenue and income for the government. This capital allows them to subsidize and continue funding the American social services “safety net.” While all of these functions are essential in some manner, they can only be protected if a new health care system is created.
Shared Economy Services (SES), a company working to revolutionize the American health care system, has proposed a framework for ensuring all workers are eligible for extensive benefits. Through its unique employment flexibility for “benefit empowered” members and employers, employers are freed of the obligations and costs of providing benefits.
SES provides innovative intellectual property for reimagining worker’s compensation, disability auto insurance, health care, retirement, job and work connection and more.
With Shared Economy Services’ unique ecosystem, employers don’t bring benefits anymore; the workers do. Employers and employees need job flexibility, and SES members enable it.
SES’ solution, having members “benefit empowered,” addresses current job classification practices by “presenting” every member with all of the benefits and statutory attributes of an “employee,” irrespective of what employment structure they belong to. This allows SES to invert the job paradigm from static to dynamic and liberate millions of Americans.
SES estimates that its solutions will empower 130 million independent contractors, small employers and gig workers to access comprehensive health care and worker benefits they couldn’t gain previously.
Shared Economy Services uses technology like the People CloudTM to support its services. This digital ecosystem provides a group of integrated services, benefits and products designed for this 130 million pool of non-traditional workers.
SES offers a lifetime subscription to career and family security services. The platform gives members limitless access to career opportunities by eliminating the legal difference between a contractor, gig worker and an employee. This enables any SES member to complete any job without losing out on the benefits they need.
To date, there has been no other successful resolution to the ongoing job classification dilemma that restricts the success of companies and gig workers. Shared Economy Services plans to become a pioneer of socioeconomic change.
Legal expenses related to misclassification lawsuits are now the number one class action and civil legal cost for American employers. Court settlements of classification litigation reached $3.62 billion in 2021, almost triple the settlements in 2019 ($1.34 billion) and a 44% increase from 2020 ($1.58 billion).
The number of gig workers is increasing three times faster than the traditional job population. America’s policies around job classification prevent economic growth for both employees and companies. However, once SES launches its services, the company will provide affordable work and life benefits to over 130 million Americans. Shared Economy Services estimates that 70 million independent contractors, 60 million empowered workers and 40 million employers will benefit from its solutions.
Through SES’ People CloudTM, any employer can hire fully profiled and vetted workers for any job, no matter how diverse the work, schedule or agreement may be. This will give members a 25% to 80% higher income than non-participants. Members also save 35% to 50% of their wage costs while obtaining benefits that are portable, plentiful and superior to traditional employment offerings. The platform additionally ensures discrimination is virtually impossible by utilizing alphanumeric job identification numbers for its talent pool.
Employers with under 25 workers who hire from the People CloudTM can save up to 60% on benefits costs. SES’ structure assures reduced operating costs, greater earnings for employers and workers, unrivaled internet/mobile access to work, retention of the entire fare/contract price, safety and the unlimited ability to secure, even schedule, optimized work opportunities of all kinds, not just driving.
“Reimagining the historic structure of employment frees an employer of the operative, economic and legal obligation to provide all requisite benefits to workers,” says Robert Wallach, SES founder and chairman. “By eliminating job classification and contingent liabilities, SES transitions the traditional American workplace, empowering new work realities and facilitating its expansion and diversification.”