San Francisco, February 15, 2018—The U.S. economy is undergoing a profound change — and fast. The share of workers classified as independent contractors has skyrocketed over the last decade to 36% percent. That’s 57.3 million Americans!
That share is on pace to eclipse 50% by 2027, when an estimated 86.5 million Americans will be freelancing. Working independently will be the new normal, and it’s not simply a matter of the freelance economy growing at a faster rate than traditional employment.The number of non-freelancers is expected to DECREASE from 102.7 million to 83.4 million over the next ten years.
Despite this well documented shift in employment practices, society has yet to adapt in one key area: health insurance.
Traditionally, Americans often received health benefits from their employer, a mutually… beneficial… arrangement as companies could offer their employees access to group health plans that have lower premiums than the equivalent plans available to individuals. But the same isn’t true for independent contractors, 54% of which don’t receive any health benefitsthrough their employers and don’t have convenient access to group health plans.
But not for long.
Thor Token will offer independent contractors access to the group health plans that the current economy has left them without, saving them money and helping them maintain the quality of life they deserve. As the value of Thor grows, we will reinvest that money in the contractors we serve, offering increased subsidies on their healthcare plans. We won’t stop until healthcare is free for contractors on our our platform!
The freelance economy needs a real solution to the problem of affordable healthcare access, and we have no problem stepping up to the plate.