Why the Affordable Care Act is a Step Forward for Small Businesses
11:47 AM February 1, 2011
While everyone is finding things they don't like about healthcare reform, let's not forget that our current system is no bed of roses for small businesses. We fought for a decade to be able to form large pools so that we have increased market clout.
WIPP knows the current healthcare reform law is not perfect, but the Affordable Care Act made some significant changes that we believe will result in better choices and better prices for small businesses that currently do not have a workable market.
The healthcare law puts into place important reforms. These reforms include:
• Tax credits for small businesses that offer healthcare to their employees
• Elimination of ratings on pre-existing conditions and health status
• The creation of state exchanges and multi-state compacts to give small employers and individual purchasers more market clout
• Guaranteed issue and renewability
• A simplified enrollment process
One of the cost containment issues that was not addressed in the reform law and would significantly drive down costs is limiting medical malpractice lawsuits. We urge the Congress to take action on this important component of reform.
The current marketplace is unworkable for small businesses. These elements of reform must remain in place for the market to make the necessary changes for small businesses and their employees.