30. June 2010 03:36
For decades, America’s small- business owners have asked for more affordable health insurance coverage and more tax relief. The new health reform law – the Affordable Care Act – provides both.
Currently, small businesses pay as much as 18 percent more than large firms for the same coverage. The exchanges will allow businesses with as many as 100 employees to pool their risk together, lower their administrative costs and negotiate more effectively with insurance companies. According to the Congressional Budget Office, this could help drive down premiums by as much as 4 percent in the marketplace of small-business health plans.
The tax credits and the exchanges are just two of the new tools that will help small businesses get health insurance, some for the first time.
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By: Daniel P. Hannaher, INFORUM