by Chris Huckins Google+ Email 

 

17 May 2013

Does Obamacare REALLY hurt small businesses?

Posted in Health Insurance 101

Does Obamacare REALLY hurt small businesses?

   Republicans will have a new strategy to repeal Obamacare (Affordable Care Act) after today, which marks the 37th attempt the GOP-led House of Representatives voted to repeal the historic health insurance law in some form or another. But before they share their plan they'll resurrect Albert Einstein and make him redefine insanity. Einstein's definition of insanity: "doing the same thing over and over again and expecting different results" might reverberate with Republicans on Repeal Attempt #40 (also a sunscreen). 

    Not surprisingly, the entire Republican side voted "Yea" to repeal Obamacare (227 votes) in its entirety. This is the 3rd time they target the law as a whole. The other 34 times they were nitpicking Obamacare regulations. But before today's sideshow even started, (R) Speaker of the House John Boehner waved his job pamphlet and defended the repeal, stating, "Jobs is what this is all about." In his eyes, Obamacare should be repealed because it hurts small business owners looking to hire. Is he right? Well, on the political spectrum he's right (conservative).

    Want the answer? Look at Massachusetts, whose Republican Governor at the time and former Republican presidential candidate, Mitt Romney, passed a state-wide healthcare law similar to Obamacare. It mandated businesses offer affordable health insurance to their employees or pay a penalty. Not long after passing, between 2009 and 2010, the number of small businesses who covered their employees jumped from 70 to 77 percent. Seemed to have the opposite effect of Boehner's nightmare scenario.

    To really drive a stake through the heart of Republican rhetoric, in an independent test, Urban Institute modeled scenarios as if Obamacare laws were fully in effect last year. Small businesses of under 100 employees who covered employees saw a cost reduction of 7.3 percent for each individual and 1.4 percent overall. How? Tax credits (subsidies) offset the prices for health insurance premiums for low wage workers and small businesses.

    To deflect unwanted affiliation, Republicans have updated their time travel plans: go back in time and repeal Romneycare 37 times.

    Have questions about healthcare reform? Want to know if you qualify for health insurance tax credits? Call 855.251.5000 or click below for a free quote!