Health Care Reform Law Fact Check: Hurts Small Businesses

what RepublicanS are saying:

Rep. Mick Mulvaney: "The current health care legislation is a complete disaster for small business.”  

Here are the facts: 

The health reform law is helping small businesses make employee coverage more affordable. The law provides $40 billion in tax credits for small businesses to help them offer coverage to their employees and exempts 96 percent of all businesses from the shared responsibility requirement. The law will allow small businesses to band together to help them get the same rates on health insurance that bigger corporations get.

As Commerce Secretary Gary Locke recently wrote: “Repeal would also mean the $40 billion worth of tax credits that up to 4 million small businesses would receive to defray employee health-care costs would disappear.”

Helping Small Businesses Offer Care A recent survey conducted by Small Business Majority found that one-third of employers who don't offer health insurance now would be more likely to do so because of these credits.

And according to a recent article in Forbes Magazine: “The major health insurance companies around the country are reporting a significant increase in small businesses offering health care benefits to their employees.”

The old status quo was unsustainable for the small business community – 60 percent of America’s uninsured, or 28 million people – are small business owners, workers, and their families. Insurance costs for small businesses have more than doubled since 2000.

As Small Business Majority Founder and CEO John Arensmeyer recently wrote: “The country’s 28 million small businesses stand to benefit greatly from many provisions of the new healthcare law, particularly the tax credits and health insurance exchanges.”

LEARN MORE HERE:

http://docs.house.gov/energycommerce/SMALLBUSINESSES.pdf

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