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Dr. Randal Pinkett
November 2013

Elevate your game

Dear Friends:

Many of you are familiar with our series on my 7 Fs: Faith, Family, Friends, Fellowship, Fun, Fitness, and Finance. The 7 Fs are guiding principles which, I believe, are essential to living a life balanced in mind, body, and soul. Last month, we focused on Fitness and the Affordable Care Act as a catalyst to improving health and fitness in the United States. Given the amount of attention Obamacare continues to receive and the many questions surrounding it, now is an opportune time to examine the basics of this new legislation and how it affects business owners and consumers.

While many of us can agree that the Affordable Care Act is a highly complex piece of legislation, once we understand the basics, it becomes far less intimidating. “What are the new requirements?” and “How much is this going to cost me?” are questions people ask every day and is a great place to start. Obamacare requires companies with more than 50 employees to provide health insurance coverage to employees or pay a penalty; those with fewer employees are not required to provide coverage. The deadline to report intent was October 1, 2013, and employers must be compliant with the provisions of the Act by 2015. Individuals who find themselves without coverage have access to the Health Insurance Marketplace, also known as the health insurance exchange. The exchange is a resource that allows private insurance providers to offer plans as an alternative to employer provided health plans and provides small business owners with more options than they had before. Deciding whether to opt for the company plan or the exchange is a decision employees must weigh carefully, taking into consideration plan options and affordability. In determining affordability, consumers should research their eligibility for tax subsidies which are based on such factors as family size, income level and age. Eligible individuals can make up to 400 percent of the federal poverty line, equivalent to $45,960 for one person and $94,200 for a family of four. Employers may also provide subsidies and direct employees to the Marketplace. In some instances, it will be less expensive for employers to increase wages (so employees can purchase their own insurance) and simply pay the penalties. While coverage and cost options in the Marketplace are still to be determined, competition is expected to drive rates down. However, actual premiums are a function of the profile of the employee’s company and will be influenced by increases in the number of elderly and those with pre-existing conditions (who can no longer be denied coverage under the Act).

It’s important to note that the number of companies providing health insurance coverage was on the decline before Obamacare with 66 percent of companies offering coverage in 2003 and just 57 percent today. Despite the complexities of the Affordable Care Act and the challenges so often reported by the media, Obamacare is doing exactly what it was intended to do: make healthcare affordable by spreading out the cost among taxpayers. It simply makes sense from a moral and a health perspective.

Peace and blessings,

Randal

MOMENTUM
FEATURE

"Apprentice" Winner to speak at Chamber Launch

Randal Honored with Young Gifted and Black Entrepreneurial Award

Accomplished Businessman and "Apprentice" Star Randal Pinkett Devotes Himself to Disadvantaged Communities

game-changers

TV Shows That Changed the Game

Books That Inspired Black Faces in White Places

Photos That Changed the Game
Music That Inspired Black Faces in White Places

Quotes That Inspired Black Faces in White Places

Movies That Changed the Game

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Learn more about my management and technology consulting firm, BCT Partners.
APPEARANCES


Randal Appears on Arise America

This past September, I had the distinct pleasure of making another appearance on Arise America, a morning talk show broadcast from New York covering a range of current issues, from pop culture to political, that appeals to the interests of people of color in diverse communities. I sat down with Debbye Turner Bell, formerly of CBS and Miss America 1990, to discuss key details of President Obama’s Affordable Care Act and its implications on small businesses and consumers. Watch the entire interview right here.

Arise America airs Monday through Friday at 6pm and 8pm ET at www.arise.tv and by satellite in the UK, Europe, Africa and the Middle East.

Watch Video

   
   
Randal judges in the boardroom for Duke University's "Innovative Apprentice" competition   Randal recently inducted into the Rutgers Hall of Distinguished Alumni   Randal with the hosts of "The Open Line" on 107.5 WBLS in New York

BREAKTHROUGH


The Wistar Institute: Saving Lives Through Science

The Wistar Institute is the nation's first biomedical research institute, with an international reputation for scientific excellence in cancer and vaccine research. The organization and their very important work were brought to my attention by good friends of mine, Aubrey and Teresa Watkins. Laboratory science is the basis for all modern medicine, and Wistar excels at translating scientific discoveries into new treatments for patients, whether it is a vaccine against rotavirus—which kills nearly 450,000 children each year in Africa alone—or the attempt to create the first effective drug against cancers caused by Epstein-Barr virus. Among recent advances this year, Wistar scientists have discovered how a common diabetes drug can enhance the effectiveness of therapies against melanoma, the most aggressive form of skin cancer.  And now, technologies developed at Wistar form the basis for a new HIV vaccine, currently scheduled to begin clinical testing. Even in times of shrinking federal research budgets, Wistar scientists continue their mission to save lives through biomedical research.

Wistar is also a training ground for future scientists. Each summer, students from Philadelphia high schools join Wistar scientists to get hands-on laboratory experience, while students at the Community College of Philadelphia can enroll in a unique training program to become highly sought-after laboratory technicians.

In many ways, Wistar scientists strive to build a better, healthier future for us all. For more information on how you can help support The Wistar Institute, visit www.wistar.org or call 1 (800) 724-6633.

SPOTLIGHT

Black Faces in White Places
Black Faces in White Places: 10 Game-Changing Strategies to Achieve Success and Find Greatness offers ten revolutionary strategies for learning, playing, and changing "the game"--that is, the world in which we all live and work--for the current generation, while undertaking a wholesale redefinition of the rules for those who will follow. It is not only about shattering the old "glass ceiling," but also about reconsidering the four dimensions of the black experience: identity, society, meritocracy, and opportunity. Ultimately, it may be about changing the very concept of success itself.

Available: Now
Buy: Amazon | Barnes & Noble

 
No-Money Down CEO
No-Money Down CEO: How to Start Your Dream Business with Little or No Cash explodes the myth that you have to have a lot of money or need an outside investor to pursue your dream. This action-learning, audio business course offers a comprehensive step-by-step plan for launching your business with little to no cash. Listen as Randal offers insider's tips, tools and techniques that will put you on the fast track to becoming a successful CEO.

Buy: Amazon | Barnes & Noble
 
Campus CEO
Campus CEO: The Student Entrepreneurs Guide to Launching a Multimillion-Dollar Business walks any would-be entrepreneur through all the necessary steps to launching a profitable, campus-based business, while simultaneously achieving academic success. Regardless of major, background, or area of interest, readers of Campus CEO will learn how to turn their academic and professional dreams into reality.


Buy: Amazon | Barnes & Noble
 


ABOUT RANDAL PINKETT

Dr. Randal Pinkett has established himself as an entrepreneur, speaker, writer, scholar and community servant. He is the Co-Founder, Chairman and CEO of BCT Partners, a multimillion-dollar management, technology and policy-consulting firm based in Newark, NJ. A sought after public speaker and advocate for numerous corporate, youth and community groups, Dr. Pinkett is the author of Campus CEO: The Student Entrepreneur's Guide To Launching a Multimillion-Dollar Business and No-Money Down CEO: How to Start Your Dream Business with Little or No Cash. Notably, Dr. Pinkett made history as the first African-American ever to receive a Rhodes Scholarship at Rutgers University and firmly believes in the mantra "for those to whom much is given, much is expected."

The "Elevate Your Game" monthly e-Newsletter is published by Dr. Randal Pinkett. Copyright (c) 2012 Randal Pinkett, LLC. All rights reserved. For further information, visit us at www.randalpinkett.com. For speaking engagements and appearances inquiries, please contact Mrs. Michon Barnes at 678.637.5064 or mbarnes@bctpartners.com.

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