A glossary of US health insurance terms
Understand the terms and acronyms you’ll encounter in buying self-employed and small business health insurance
Nonprofit
Socially-minded entrepreneurs often ask me whether they should become a nonprofit. Usually, this is shorthand for a 501(c)3 tax designation. 501(c)3s are exempt from federal tax and can accept tax-deductible donations from private foundations and public charities. Before you say, “Yay, free money!” understand some of the downsides.
CAN-SPAM
A 2003 US law that applies to using email for commercial solicitation. The acronym means Controlling the Assault of Non-Solicited Pornography and Marketing Act (And people say Congress isn’t fun). CAN-SPAM established seven rules for commercial emails.
Controller
A controller will transform your financial statements into useful information and elevate your reports into useful management insights. A controller should be able to build forecasts, evaluate labor costs, and assess margins and profitability.