Report: Small Businesses to See Premiums Spike Under Obamacare
WASHINGTON, D.C., February 24, 2014 — National Federation of Independent Business (NFIB) Director of Federal Public Policy Amanda Austin made the following statement in response to a report released by the Office of the Chief Actuary at the Centers for Medicare and Medicaid Services (CMS) regarding the impact of Obamacare on employer-sponsored health care.
CMS reports that health care premiums will rise for 11 million people – and particularly those that work for small businesses.
“It’s officially time to change the name of Obamacare to The Unaffordable Care Act,” said Austin. “The government’s own actuaries have now affirmed that 65 percent of the people who work for small businesses will see premium increases due to the law’s community rating requirement. Additional requirements and taxes will only accelerate cost increases further. With their relatively younger, healthier employees – small businesses are the No. 1 most damaged group under Obamacare. Perhaps the biggest takeaway is the lengths that the Administration will go to hide the runaway costs for a health care law that is neither affordable nor workable.
“The actuaries’ findings are, unfortunately, consistent with NFIB’s own research into the impact of the healthcare law. We predicted last year that premium increases for the small-business community would be driven by community rating, a mandatory minimum benefit package, and new taxes rolled into premiums.
“NFIB and small-business owners have been, and are, 100% right about what’s wrong with the ACA.”
For more than 70 years, the National Federation of Independent Business has been the Voice of Small Business, taking the message from Main Street to the halls of Congress and all 50 state legislatures. NFIB annually surveys its members on state and federal issues vital to their survival as America’s economic engine and biggest creator of jobs. NFIB’s educational mission is to remind policymakers that small businesses are not smaller versions of bigger businesses; they have very different challenges and priorities. More information is available online at www.NFIB.com/newsroom.