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Health Care Law Helps Entrepreneurs Quit Their Day Jobs

"Nobody wanted to cover me because of that." Economists call what held Simonson back job lock, or entrepreneur lock. "Entrepreneur lock has proven to be a significant barrier to potential entrepreneurs," says Dane Stangler, vice president of research and policy at the Kauffman Foundation, which promotes entrepreneurship. "To the extent the Affordable Care Act unlocks that job lock that entrepreneur lock one effect is to provide a boost to entrepreneurship overall," Stangler says. The U.S. system of employer-provided health care deterred people from quitting a job to start their own business, says Susan Gates, one of the authors of a study by the Rand Corporation in 2011. "People considering leaving a job with good health insurance faced a daunting challenge in purchasing health insurance on the individual market," Gates says. The study concluded that this particular challenge was reducing the number of entrepreneurs.
Health Care Law Helps Entrepreneurs Quit Their Day Jobs

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