The U.S. House is scheduled to vote on a new healthcare bill today. The proposed replacement for the Affordable Care Act is not in the best interest of small business.
Let us count the ways.
- Workers for small businesses will be less healthy. 24 million more people will be uninsured in the next 10 years according to the independent Congressional Budget Office. Most of these people are working for small businesses. Clearly small businesses will have more of their employees without health insurance thus hurting productivity.
- No help for small businesses. The small business tax credits for offering employees health insurance is eliminated. This was the only provision in the Affordable Care Act that helped small businesses afford to offer group health insurance.
- No personal responsibility for having health insurance. The bill allows people to be free from paying for health insurance yet the uninsured will continue to receive healthcare services at hospitals. Those with health insurance will pay higher premiums to pay for the healthcare of the uninsured.
- Consumer demand for small business goods and services will decline. Billions of federal dollars for healthcare services will be pulled from local economies thus causing loss of healthcare jobs and more rural hospitals to close.
- Premiums will go up. The independent Congressional Budget Office predicts that the average premiums for single policyholders not having group plans will increase 15 percent to 20 percent in 2018 and 2019 compared to not changing the law.
Call your Representative now and tell them to vote NO on the healthcare reform bill. It’s BAD for small businesses.