In a report released by the nonpartisan Small Business Majority and featured in the Daily Dose blog, healthcare reform could save America’s small businesses $855 million in the first 10 years.
Healthcare reform is a hot topic in the halls of Congress right now. Increasing costs have forced entrepreneurs and small businesses to make tough choices about whether to provide coverage or not.
The Economic Impact of Healthcare Reform on Small Businesses report noted that successful reform will require shared responsibility among the healthcare industry, businesses, government and individuals.
In an interview with Entrepreneur.com, Small Business Majority CEO John Arensmeyer commented “Not enacting healthcare reform is going to be an unmitigated disaster, but implementing a system based on the framework Congress is working on right now–even with the [controversial] mandates for employee coverage–will be a tremendous benefit to small business. Even the most conservative versions of reform will produce better results.”
Up to 178,000 jobs could be lost by 2018 and small business employees will see $12 billion in lost wages this year alone if healthcare reform fails.
While debate is ongoing, Arensmeyer is optimistic a reform package will be completed this year.