CAMEO, California Association for Micro Enterprise Opportunity, says that the U.S. Supreme Court ruling today to uphold the Affordable Care Act is a win for small businesses.
Health expenditures in the United States neared $2.6 trillion in 2010, over ten times the $256 billion spent in 1980. According to Centers for Medicare and Medicaid Services, Americans spent almost $2.6 trillion in 2010 on healthcare or ten times the amount we spent thirty years ago. That massive increase in health care costs means that many small businesses either don’t offer health benefits or pay more per employee than a large business would.
The Affordable Care Act means that healthcare benefits will be more affordable for small businesses. Small firms have seen lower premiums because of the parts of the law that have been implemented such as rate review and the Medical Loss Ratio provision.
“Not only will premium costs go down,” says Claudia Viek, CEO of CAMEO. “It will provide additional efficiencies in managing health benefits and make small businesses more competitive with larger businesses in search of talent.”
A poll by Small Business majority found that small businesses support the law, and are eager to participate in the healthcare exchanges. Tax credits will help small businesses offer health insurance benefits. California’s small businesses will be able to participate in the Small Business Health Options Program (SHOP),
CAMEO’s mission is to promote jobs, economic opportunity and community well-being through entrepreneurship training, business coaching and microfinance. CAMEO is California’s statewide Micro Enterprise association made up of over 160 organizations, agencies and individuals dedicated to furthering the fortunes of micro-businesses in California.
Read this press release on PRWeb.