Small Businesses & Health Reform

Recently, there have been a couple of articles and reports focusing on the impact of health reform on America’s small businesses. The list below provides a handful of these articles as well as links and summaries.

U.S. Employers Push Increase in Cost of Healthcare onto Workers, Los Angeles Times, 9/2/2010

This article provides an excellent overview of the Kaiser Family Foundation’s new survey, which concludes that family health premiums rose to $13,770 in 2010, but workers’ share jumed 14% as firms shift cost burden.

Realizing Health Reform’s Potential: Small Businesses and the Affordable Care Act of 2010, The Commonwealth Fund, 9/2/2010

This report provides an excellent summary of the impacts of health reform on small businesses. Exhibit 5 provides a great overview of the provisions in the Health Reform Law that benefit small businesses and their workers. Exhibit 6 and Exhibit 7 provide a breakdown of the small business tax credit from 2010-2013 and 2014+, respectively. Here is a summary of the article from the Kaiser Family Foundation.

Abstract: The Patient Protection and Affordable Care Act (ACA) includes several short- and long-term provisions designed to help small businesses pay for and maintain health insurance for their workers, and to allow workers without employer coverage to gain access to affordable, comprehensive health insurance. Provisions include a small business tax credit to offset premium costs for firms that offer coverage starting this taxable year, establishment of state-based insurance exchanges that promise to lower administrative costs and pool risk more broadly, and creation of new market rules and an essential benefit standard to protect small firms and their workers. Analysis shows that up to 16.6 million workers are in firms that would be eligible for the tax credit in 2010 to 2013. Over the next 10 years, small businesses and organizations could receive an estimated $40 billion in federal support through the premium credit program.