Monday, July 27, 2009

What's the deal with the Obama health care plan? Should small business support it?

Steve Strauss of USAToday answers this question in his recent column with, "Small business may have more at stake in this health care debate than any other constituency. Consider: According to a report by the U.S. Public Interest Research Group, roughly 46 million Americans are without health insurance, and of those, more than half — 26 million — are small business owners, employees and their dependents."

What can it mean for America's small business owners if/when the healthcare bill is passed regarding the cost of healthcare?

Strauss answers:

Now, what about this so-called mandate requiring small business owners to provide health insurance or face a government fine? That is more troubling. Under the House measure, employers with payrolls of more than $400,000 a year will be required to provide health insurance or pay an 8% penalty. Businesses whose payroll falls between $250,000 and $400,000 a year would pay a lesser penalty. Businesses with fewer than $250,000 in payroll would be exempt. A Senate version would exempt employers with fewer than 25 employees, and the fine for bigger companies not complying would be $750 fine per employee per year.

Do you think that healthcare reform is worth it for small businesses? Will small business owners suffer more with the mandates? We'd like to hear your thoughts.

Ask an Expert: The good, bad of Obama's health care plan

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