Healthcare

Congress included in the Affordable Care Act a significant new tax credit for small business owners who provide their workers with health insurance. Under this new tax credit, businesses that have fewer than 25 full-time workers and average wages of less than $50,000 are now eligible to receive a tax credit of up to 35% of the cost of the health insurance that they provide for their workers.

Small Business Majority released a national survey of 619 small business owners in January 2011 to gauge how entrepreneurs view two critical components of the Patient Protection and Affordable Care Act: healthcare tax credits and insurance exchanges.

Small businesses are the backbone of America’s economy. Across the country, there are nearly 4.8 million businesses that employ 25 or fewer workers. They’re your local diner, the hardware store down the street, and the mechanic in your neighborhood. 

Congress included in the Affordable Care Act a significant new tax credit for small business owners who provide their workers with health insurance. Under this new tax credit, businesses that have fewer than 25 full-time workers and average wages of less than $50,000 are now eligible to receive a tax credit of up to 35% of the cost of the health insurance that they provide for their workers.

Although large employers have been expanding wellness programs in recent years, small businesses have lagged in this endeavor. Since small businesses employ nearly 50% of all private-sector workers, any comprehensive expansion of wellness and prevention efforts must include a role for this large swath of private sector employers.

The Supreme Court is expected to hand down its decision any day in the case against the Affordable Care Act, filed by the National Federation of Independent Business (NFIB) and state attorneys general. The polling of 800 small business owners in eight states (Florida, Illinois, Louisiana, Michigan, Missouri, New York, Texas and Virginia) found 50% of small business owners want the healthcare reform law upheld—either as is or with minor changes—while only one-third want the Supreme Court to overturn it.

Although large employers have been expanding wellness programs in recent years, small businesses have lagged in this endeavor. Since small businesses employ nearly 50% of all private-sector workers, any comprehensive expansion of wellness and prevention efforts must include a role for this large swath of private sector employers.

Historically, small businesses have faced punitive healthcare costs, paying on average 18% more than their large business counterparts. This places an economic burden on small business owners and their employees that has led to distressingly high numbers of uninsured or underinsured workers. New scientific polling shows the rising cost of prescription drugs also are becoming a major concern for our nation’s small business owners. 

Small Business Majority released a scientific opinion poll that found that the majority of women-owned small businesses believe that insurance companies should be required to include contraceptive coverage in their health plans. Further, the poll found women entrepreneurs view access to reproductive healthcare as critical to their ability to start their business.

Small Business Majority scientific opinion polling found small businesses favor the Affordable Care Act over the Republican replacement plan, the American Health Care Act (AHCA) by a 2:1 ratio.