Two Durant women had a once-in-a-lifetime experience when they were invited to meet with President George W. Bush in a roundtable discussion about health savings accounts for small businesses.
Durant residents, Dr. Barbara Rackley, coordinator of REIs Womens Business Center (WBC) in Durant and Kathy Robinson, President & CEO, Schoolware, Inc. ,located in an REI-managed business incubator, were among those invited to meet with President Bush at the Presbyterian Health Foundation Research Park Conference Center in Oklahoma City.
It was certainly an honor I never expected to come my way, Rackley said, and its an experience I will never forget. Dr. Rackley said she was able to share with President Bush that REI joined the U. S. Small Business Administration in celebrating the 20th anniversary of HR 550, the Womens Business Ownership Act, which allowed the creation of Womens Business Centers across the nation.
Dr. Rackley said she also told the President that information about the health savings accounts will be incorporated into future WBC workshops. The health savings accounts are a good option for small businesses wishing to provide health care coverage to their employees, she said.
Kathy Robinson started her academic software business at her kitchen table but today Schoolware, Inc. is located in an REI-managed business incubator. The business has a sales force of 17 and an office staff of four to handle the day to day operation.
This was a very humbling experience and one I never dreamed I would have, Robinson said. What I found most impressive about President Bush was what I learned about him after the meeting. He was genuine, put us very much at ease and shared some personal and family antics.
Robinson said she is committed to providing benefits to her employees but it is getting harder all the time so she will give serious consideration to the Presidents health savings accounts for her business.
A health savings account is a tax preferred account owned by an individual used to pay for current and future medical expenses, including deductibles and co-payments. The individual has ownership of the resources in the account and should they change jobs or become unemployed, the money in the health savings account goes with them. The health savings account has another unique benefit. Funds remaining in the account at age 65 may be considered as a retirement benefit.
Others present at President Bushs forum included Tom Seth Smith, REI President & CEO, Sandy Baruah, SBA Acting Administrator as well as other women entrepreneurs and state legislators. Congresswoman Mary Fallin, U. S. Senator Tom Coburn and Congressman Dan Boren accompanied President Bush to Oklahoma City and participated in the event.
Over the years REI has had the privilege of hosting national and even international guests, but a visit from the President of the United States was a first for us, Smith said. It makes me very proud to serve an organization that has earned a reputation for economic development excellence and it speaks well of our board of directors and the REI staff as well.