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Small Businesses Concerned About Rise in Healthcare Insurance

Under the new healthcare reform law, small businesses fear they will no longer be able to insure their employees.

It looks as if small businesses are about to take another hit.

Critics of Obama's healthcare reform law are claiming the Health Insurance Tax (HIT), included as part of the law, will cost small businesses and their employees billions of dollars in fees.

According to the National Federation of Independent Business, the cost of health insurance is the No. 1 issue facing small business owners today. And with healthcare reform looming, the NFIB, which opposed the new law, fears the costs will only rise.

Check out the small business stories on Brandon Patch

Forty-three percent of small companies with less than 50 employees now offer health insurance to their employees while 96 percent of small firms with more than 50 employees offer health insurance, according to the NFIB.

However, because they are small, small businesses pay on average 18 percent more for health insurance than their larger counterparts for the same group of services.

According to the Small Business Administration, small companies (under 500 employees) represent 99.7 percent of all employers and employ about half of U.S. workers.

With healthcare costs predicted to rise under the reforms, small business owners now providing health insurance for employees will be forced to drop coverage, according to the NFIB, thus multiplying the millions of Americans without healthcare coverage.

What steps do you think the country should take to avert this crisis? Tell us in the "Comments" section.

 

 

 






Simon Buck Davis September 28, 2012 at 06:10 PM
Newt Gingrich, former US House Speaker said the new healthcare law is socialized medicine and must be repealed. He called the legislation “a back door road to socialized medicine” that puts America at the edge of a possible catastrophic failure. Here are a few myths about socialized medicine: Myth: A right to healthcare Myth: Higher quality Myth: More bang for the buck Myth: Equal access Myth: Less red tape The bad news for employers is that more than two-thirds of companies could now be forced to change their current coverage, and almost 80 percent of small businesses could be affected as well. REF:http://www.newsonhealthcare.com/preparing-for-socialized-health-caresome-patients-may-die-waiting-for-treatment/

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