Access to Healthcare, 401k and Other Benefits
Many artists have difficulty obtaining good healthcare and benefits. Some hold jobs simply for access to benefits, taking time away from their artistic practice. Others pay high prices for lackluster plans. In the future, our hope is that we can fully subsidize healthcare for our artists, but until the company is in a position to do that, we’ve developed a solution that we believe can help.
We’ll be partnering with Opolis, a collective of freelancers that allows artists like ours to access group healthcare, 401k, disability insurance and other benefits. Their healthcare plans are better and more cost effective than many of the plans on the state exchanges and their fees are incredibly low. Indeed, we’ll be using Opolis for our own company benefits.
There are only two requirements for artists who want access to these benefits and, in fact, any artist can sign up for Opolis who meets these criteria without being part of Inversion Art. The first requirement is that Opolis must process payroll for the artist’s LLC, for which it takes a 1% fee. The second requirement is that the artist must always pay themselves at least the minimum wage for creative professionals in their state. For artists whose income may fluctuate, this second requirement can be the more difficult thing to maintain and that is where Inversion Art has stepped in to help.
We know that our artists will have periods where they earn more than minimum wage and other periods where they might earn less. Inversion Art has set aside a fund for artists to borrow up to $6,000 during periods when their income drops below minimum wage. This is a 0% interest loan designed only to help those artists using Opolis to maintain consistent benefits.
If this program allows our artists to have more freedom in how they manage their professional choices, their creative practice, and their healthcare and benefits decisions, we feel it’s a significant win. If you have questions about this program or would like an introduction to Opolis, please connect with us. We would be happy to answer any questions and put you in touch.