250k is not that much money. What a weird statement.

Benefits also cost $500-2500/mo (if you cover 100% employee and 70% dependents).

Not complaining but just saying there are costs that are not always apparent to employees.

Separately, it’s weird that a joint account is insured to 500K but a business account stays at 250K. It actually does weirdly favor wealthy individuals vs. working capital accounts for businesses that might represent many employees.

For businesses, it is a trickier proposition but there are reasons that companies roll cash into assets and operate largely from credit.

Are there people in this asset class who aren't getting financial advice? Yes. But it's not like ma and pa kettle are getting wrung out by the savings and loan here.

I prefer to minimize regulators' control over decisions.

Perhaps you have noticed that regulators are at bottom politicians?

Did you also consider that the political incentive for a regulator are at odds with the ones running the bussiness. (mainly, not getting people killed).

What meaningful distinction are you drawing here? It's not practical to opt out of banking, and FDIC has no real competition (the NCUA offers exactly the same terms, and in the credit union thread fans were at pains to emphasise how equivalent to the FDIC it is). Not all taxes are collected by governments from individuals.

I haven't looked into the details for how this will be paid, but that would be my initial guess.