SAN FRANCISCO, Aug. 27, 2019 /PRNewswire/ -- Today, Decent is launching a new way for self-employed people to obtain affordable health insurance plans. The announcement comes alongside its $8 million in funding to date from investors including Menlo Ventures and Foundation Capital. In addition, the company has partnered with several national partners including the largest hospital system in the world, to help address the health insurance market which is typically cost-prohibitive to those who are self-employed.
Unlike other health plan providers, Decent enables self-employed people to band together to provide them with an affordable healthcare option through its plans, ultimately saving 30 percent or more in monthly premiums when compared to alternative options. With this initial funding, access to these plans will be expanded into new markets with the goal of bringing viable healthcare options to one billion self-employed people in the next decade.
"Health insurance is too expensive, especially for people who buy their own without subsidies. Freelancers are seeing premiums rise by more than 20 percent per year," said Nick Soman, Decent's CEO and Founder. "The future of work demands the future of insurance. With the most affordable comprehensive plans for self-employed people, we come one step closer to making healthcare affordable for all."
Now, through membership with the Texas Freelance Association (TFA), self-employed people including 1099 contractors, sole-proprietors, and freelancers can finally get access to reasonably priced, high quality health insurance plans administered by Decent. All of the plans are offered with year round open enrollment to the most affordable ACA-compliant bronze and silver plans available in Decent's service area. These plans present no restrictions or charges for pre-existing conditions and are not gated by medical screening. They are also built around Free Primary Care via the direct primary care (DPC) model, so patients receive unlimited access to same-day appointments, 24/7 telemedicine services, and almost any procedure performed by a primary care physician—all for $0 out of pocket payment.
"The work Decent is doing to extend affordable, high quality health coverage to the self-employed is a mission that all of us can get behind," said Dr. Larson, a Direct Primary Care Physician in Decent's Network. "I own my business and can relate to the struggles others face when trying to find affordable coverage and am happy to be a part of improving their journey."
These plans are currently available in Austin, Texas and will soon be available in other parts of Texas and the country. The capital will also be used to grow Decent's team over the next year. For example, the company recently appointed Elijio Salas as the Agency Management Lead. Elijio brings a breadth of insurance expertise, as the former Associate Commissioner at the Texas Department of Insurance.
"Americans spend around three-and-a-half trillion dollars per year on healthcare, yet experts estimate that a quarter of that is wasted on administrative overhead," said Naomi Pilosof Ionita, Partner at Menlo Ventures, Decent's lead investor. "I am eager to see Decent transform the way self-employed people receive healthcare, and support this under-served market by offering more affordable options."
For more information, visit www.decent.com
Decent provides affordable health plans for self-employed professionals (freelancers, sole proprietors, and 1099 contractors) and their families. We offer year round open enrollment to the most affordable ACA-compliant bronze and silver plans available in our service area, with premiums that are up to 50 percent lower than typical market rates. We envision a world where everyone has the freedom to do the work they want without sacrificing access to affordable and comprehensive healthcare. This is why all of our plans include unlimited free primary care with your personal doctor along with access to an ever expanding network and the world's largest hospital system. Decent is currently available in Austin, Texas and will soon be expanding to other parts of the US. To learn more, visit http://www.decent.com/.
Sutherlandgold for Decent