Health insurance plans are a big issue for small U.S. businesses.
Without a doubt, one of the biggest concerns for the small business sector in the U.S. is the cost of health insurance plans. Every four years, when the National Federation of Business surveys its members, the number one item that everyone is concerned about is health insurance. That is fairly significant, considering there are 75 kinds of problems and issues that small businesses could and do face. In this year’s survey, over 52 percent of respondents indicated the cost of health insurance plans weighed heavily on their minds.
The prevailing mindset of the Federation and its members, is that health care reform does not, and will not, make health insurance plans more affordable, unless someone gets with the program over the next four years, before Federation members are surveyed again.
Along with the concern about health insurance, is a corrosive uncertainty relating to government actions (think health insurance exchanges) and the economy (which the government has done very little about). Without those two issues being addressed, health insurance plans, the price of policies, how they will be sold, and under what circumstances remains a source of fear and anxiety for not just those who own small businesses, but Americans as a nation.
Given that small businesses are major partners in how the nation survives economically, not knowing the fate of the economy, or the uncertainty of how health insurance plans sold in exchanges will work for the future, the economy is in stall mode. It is unable to recover or expand, which in part explains the low employment rate in the small business sector today, and since the recession started.
Certainly taxes were an issue as well, but the prevailing fear relates to the cost of health insurance plans for the future. How will the health care options change, or will they? Will the prices go down for a primary policy, but small business owners must then buy other supplements to get complete coverage? How will the rules change when it comes to having a health insurance plan for a small business and its employees? How expensive will the health insurance policies be in the insurance exchanges? Will they be tailored to the state and area where they are located, or will they be one policy fits all, and possibly not effective for some?
There are a lot of fears roiling around relating to health insurance plans and how they are to work when 2014 rolls around, and everyone ‘must’ have insurance. There is still time to work out bugs in the system, but it is certainly understandable when a change of this magnitude is in the process of coming to be, that people question how it will work. Currently, it is a wait and see game.
Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit http://www.benepath.com.