The Nation magazine reports on a speech given recently by Senator Elizabeth Warren on the 'gig economy.' Overall, the report gives Sen. Warren credit for raising issues arising from the so-called 'gig' economy, which is sometimes also called the 'sharing' economy, although the report points out that her speech was not heavy on specifics. See George Zornick, "Elizabeth Warren Takes On the 'Gig Economy'" (The Nation Online at www.thenation.com posted May 20, 2016).
One of the specifics Senator Warren mentioned, though, is her suggestion that people working for the corporations in the gig economy should have catastrophic insurance to protect themselves and the public. Senator Warren suggests that premiums could be paid by periodic deductions from their paychecks.
I would respectfully add that the corporations -- whether they are deemed "employers" of these workers or not -- could as easily add a contribution to each paycheck just as they do with Social Security payments they must make so that the workers will have Social Security when the time comes. As an employer, I know what every other employer knows: It's a cost of doing business.
Please Read The Disclaimer. ©2016 by Dennis J. Wall, author of the forthcoming "Insurance Claims and Issues" Book (Thomson Reuters West, forthcoming in 2016). All rights reserved.
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