Small Businesses Can Save a Estimated $855 Million with Healthcare Reform
Over the next 10 years, healthcare reform could save America’s small businesses $855 million according to a report released by the nonpartisan Small Business Majority and featured in this Daily Dose blog post.
Healthcare reform is a hot topic in Washington right now. Increasing costs have forced entrepreneurs and small businesses to make tough choices about whether to cover their employees or not.
The study, entitled The Economic Impact of Healthcare Reform on Small Businesses, noted that successful reform will require shared responsibility among the healthcare industry, businesses, government and individuals.
In an interview with Entrepreneur.com, Small Business Majority CEO John Arensmeyer commented “Not enacting healthcare reform is going to be an unmitigated disaster, but implementing a system based on the framework Congress is working on right now–even with the [controversial] mandates for employee coverage–will be a tremendous benefit to small business. Even the most conservative versions of reform will produce better results.”
Data from the study also concluded that without reform, up to 178,000 jobs could be lost by 2018 and that small business employees will see $12 billion in lost wages this year alone.
Arensmeyer is confident reform will be completed this year.