Presidential Insurance Launches with Assistance of FSBDC at Seminole State College
New Company Aims to Increase Access to Affordable Care Act Health Insurance
December 2, 2014
FOR IMMEDIATE RELEASE
Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu
Orlando, FL – With the passage of the Affordable Care Act, there were opportunities to be had in the health insurance market and Nedra Ball and Kevin Beckton took steps to seize those opportunities, with assistance from the Florida SBDC at UCF’s Seminole State College sub-center.
In 2014, Presidential Insurance Benefits & Consulting Group was formed as a Florida-based Insurance Agency, dedicated to providing insurance services related to the then newly enacted Affordable Care Act. Starting in 2014, all U.S. citizens and legal residents will now have to purchase credible health insurance, or what is known as qualifying health coverage, which includes coverage through their employer, a government plan, or a health plan that has to be purchased on their own.
Company founders CEO Nedra Ball and COO Kevin Beckton knew that the timing of their new venture was spot on. In fact, the share of Americans with insurance is up, the growth of health care costs are down, and it is estimated that the upcoming enrollment season this year will bring several million more potential enrollees to the marketplace as the law takes hold.
Presidential Insurance’s customers specifically include all Americans and legally documented citizens that are uninsured or on a non- compliant health plan, individuals that have lost coverage through their employer, and employees that have been referred to the Marketplace by their Employer. The company has strategically aligned itself with Healthcare.gov as Certified and Licensed Agents to better assist customers.
After careful business planning and consultation with Florida’s SBDC, Presidential Insurance has shown profit-able and consistent growth. In addition to business and strategic plan advisory services, Presidential Insurance required a facility that would be able to keep up with the quick ramp-up of licensed agents required to carry out the company vision; up to 25 agents slated for the first year of operation. The FSBDC’s Seminole State Col-lege sub-center consultant, Lee Goldring, was able to review the entire launch plan, provide important con-tacts for their professional team, as well as find office space within Seminole Technology Business Incubator Center in Sanford.
“Presidential Insurance could not have completed such a successful launch without the support of the FSBDC and the assistance of our FSBDC consultant Lee Goldring” said CEO Nedra Ball. “With their specialized assis-tance we were able to easily open our corporate offices and add two very important individuals to our execu-tive team: Mary Davis, President of Marketing and Development, and John Burke, Sr. Vice President of Agency Services. The FSBDC has truly given us the opportunity to spread our wings and enroll more people into healthcare coverage this open enrollment season.”
Today, Presidential Insurance is optimally positioned to build on its strong foundation and large market oppor-tunity, thanks in part to the FSBDC at UCF’s Seminole State College sub-center.
About the FSBDC at UCF
With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.
In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.
About the FSBDC Network
The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.
For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.
In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue
FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com
