Tom
Underwood, Kentucky state director of the National Federation of Independent
Business, released the following statement today in support of H.R. 1624 and S.
1099:
“On
behalf of our 4,000 dues-paying members across the Commonwealth, I want to
thank U.S. Rep. Brett Guthrie for introducing H.R. 1624 and shepherding it
through the House, where it passed on Monday.
“Now,
Kentucky’s small businesses are asking Sen. Mitch McConnell to support the
Senate version of the measure, S. 1099.
“H.R.
1624 and S. 1099 would be a big deal for small businesses because it would
update the definition of the small-group market under Obamacare in order to
protect midsized employers from increased regulations.”
Today, the
small group market is defined as 1 to 50 employees. Beginning on Jan. 1,
however, that number will change to 1-100 employees. In practical terms,
businesses with 51 to 100 employees will not be able to keep their current
health insurance plans or purchase plans that do not conform to the new
regulations.
By being
subject to the new regulations, it is anticipated that their rates will
dramatically increase. The rates of currently eligible small group market
businesses will also likely rise as midsize businesses opt for self-insurance,
and only businesses with less healthy workforces join the marketplace.
The Protecting
Affordable Coverage for Employees Act would prevent these catastrophic
scenarios by maintaining that the small group market remains defined as 1 to 50
employees.
“This is
commonsense legislation we think senators on both sides of the aisle can agree
on,” Underwood said. “If you want to help the economy, you need to do
everything you can to help small businesses succeed.”
