Small Businesses Struggle with Health InsuranceOctober 2007
According to
bizjournals.com, the Senate promised to pass legislation this year that would help employers get better deals on small business health insurance by pooling their purchasing power across state lines. Whether or not that promise will be kept remains to be seen, but something must be done quickly, as new survey data reveals that only 27% of employees feel that their
medical coverage could provide them with appropriate wellness services.
Small business groups for years have been pushing for legislation that would allow national trade associations to sell small business health insurance to their members. This would allow employers to find and purchase more affordable plans that still offer decent coverage to their employees.
The bill passed the House several times when Republicans controlled that chamber, but failed in the Senate because of concerns over a provision that would exempt these plans from state coverage mandates.
Senator Olympia Snow of Maine has said of the situation that medical coverage premiums "have increased at double-digit percentage levels in four of the past six years - far outpacing inflation and wage gains," and has referred to the situation as a very real and debilitating "crisis."
Facts on:
Employee Medical Coverage
Did you know...
Only 27% of employees feel that their medical coverage could provide them with appropriate wellness services?
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Thankfully, as the tremendous concerns in this country regarding medical coverage and healthcare in general get more and more exposure, bipartisan conversation has begun to appear. And while different political parties see different ways of solving the situation, all are aware of the difficulties that
small business health insurance has posed for employers.
In the mean time, tailor-made "cafeteria style" plans have begun to appear as a means of negotiating cost and coverage for employers, which has provided some relief of the situation, and offer a temporary solution for those who want to protect the health of their employees without eating up all their profit.
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