Monday, July 27, 2009
July 25 (Bloom berg) President Barack Obama said creation of an insurance exchange combined with tax credits would help extend health coverage to about 13 million small-business employees who now lack it.
Obama released a study today by the White House Council of Economic Advisers that concluded that many of the nations 27 million small businesses do not have the bargaining power of corporations and as a result pay as much as 18 percent more for employee health insurance plans.
Those are costs that eat into their profits and get passed on to their employees, Obama said in his weekly radio and Internet address. As a result, small businesses are much less likely to offer health insurance.
The president used the address to keep the political momentum alive on his health care overhaul proposals. House leaders said they were trying to push for final committee action next week, meaning full votes in the House and Senate are not likely until September at the earliest.
The CEA study found that too many small businesses are forced to cut benefits, lay off workers or close because of rising health-insurance costs, Obama said.
Health Insurance :
Obama said his health insurance proposals would support small business by allowing them to buy insurance for workers through an exchange that offers a menu of policies with costs spread among a pool of small businesses to reduce risk and, thus, premiums. He did not say by how much.
He said small businesses that choose to insure their employees will also receive a tax credit.
Obama released a study today by the White House Council of Economic Advisers that concluded that many of the nations 27 million small businesses do not have the bargaining power of corporations and as a result pay as much as 18 percent more for employee health insurance plans.
Those are costs that eat into their profits and get passed on to their employees, Obama said in his weekly radio and Internet address. As a result, small businesses are much less likely to offer health insurance.
The president used the address to keep the political momentum alive on his health care overhaul proposals. House leaders said they were trying to push for final committee action next week, meaning full votes in the House and Senate are not likely until September at the earliest.
The CEA study found that too many small businesses are forced to cut benefits, lay off workers or close because of rising health-insurance costs, Obama said.
Health Insurance :
Obama said his health insurance proposals would support small business by allowing them to buy insurance for workers through an exchange that offers a menu of policies with costs spread among a pool of small businesses to reduce risk and, thus, premiums. He did not say by how much.
He said small businesses that choose to insure their employees will also receive a tax credit.
Post a Comment