$1,000 Grand Prize: Mitigating Risks to Vulnerable Populations

Emergency Childcare Insurance

1.Emergency Childcare Insurance
2. According to a recent US census there were about 15.76 million children living with a single mother in the United States, and about 3.23 million children living with a single father. Many of these single parents are dependent on childcare outside the home. When childcare becomes unexpectedly unavailable it can be detrimental to a parents ability to work. Not only does this effect single parent families but it can also cause issues when one parent has to miss work.

According to Family Forward NC (familyforward call.com)

Hourly and low-wage workers are impacted the most.

Hourly workers make up 59% of the workforce but are less likely to have access to family-friendly benefits.

Roughly 6 million American parents work in jobs that pay $10.50 or less per hour.

Low-wage employees have the least access to family-friendly policies, which has significantly and disproportionately affected their health and economic security.

 

3.This service would help insurance that children have a safe accredited care facility to attend at all times, allowing parents to no miss work.

 

4. Trigger Event: A families daycare has a frozen pipe burst and needs to close for a week for cleaning and repairs.

 

5. This insurance would cover the cost of up to 3 weeks a year of emergency care. It would also provide a service that provides parents with options for accredited care providers that accept drop ins and short term enrollment.

 

6. In case of an emergency parents should never have to choose between their child's safety and their job security. More Americans depend on thrid party childcare then ever before. Many low wage hourly employees do not have the flexibility to work from home and have limited or no paid vacation time.

The benefits for the employee would include

-peace of mind

-increased productivity

-increased focus and performance

The benefits to employers would include all of the above plus employee retention, and savings attached recruitment to hiring and training due to childcare induced turn over.

7. This could be sold to employers and offered to employees at a subsidized cost.

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Idea No. 2280