24September 2009
Health Care Reform is as important to small business owners as anybody, but how it is designed can either help or hurt companies. It doesn’t make sense to push through a reform package that penalizes business with threats of penalties and higher taxes.
Take a look at these statistics and you’ll understand why companies need health care reform. In 1993 61% of businesses provided health insurance. Today only 38% provide coverage. The problem is that premiums have gone up 9-15% per year for several years now. Add to that the fact that more than 20 million self employed individuals have seen there costs rise by 74% since 2001 and it looks worse in the future.
The truth is that small business wants Congress to say yes to meaningful reform that provides:
- Continuity so that we can keep our current plan and doctors.
- Cost containment that so that premiums will not continue to rise at current rates.
- More affordable choices for individuals to choose from.
- Insurance reform that prevents insurance companies from denying coverage on pre-existing conditions.
- Redesigning systems to included electronics record keeping.
Many companies simply cannot afford to provide coverage for their employees so some reform will be welcomed. Forcing owners to provide coverage they can’t afford will simply cause financial hardship and may drive many small businesses out of business.