Small Businesses Need Health Care Reform to Survive, Says Senator Mikulski

As small businesses across Maryland and America struggle to keep their doors open due to skyrocketing health care costs, U.S. Senator Barbara A. Mikulski is speaking out for the need for health care reform to help these businesses thrive. "This is about jobs, jobs, jobs," Senator Mikulski said. "Small businesses drive our economy. We need to help bring down health care costs, so they can keep creating jobs and keep powering our economy." With only 56 percent of Maryland small businesses with fewer than 50 employees providing health insurance, and insurance premiums expected to increase by as much as 25 percent for Maryland small businesses in 2010, Senator Mikulski emphasizes that something must be done. Without health reform, the number of Maryland small businesses that can afford insurance will continue to decline, leading to even more job losses and business closures.

Key Takeaways:

• Small businesses across Maryland and America are being driven to cut health benefits and jobs due to skyrocketing health care costs, which are expected to increase by as much as 25 percent in 2010.
• Only 56 percent of Maryland small businesses with fewer than 50 employees provide health insurance, making it clear that access to affordable health care is a major issue for these businesses.
• Senator Mikulski proposes health care reform to help small businesses by setting up insurance exchanges, offering new credits, cracking down on punitive insurance company practices, and more.
• Under health care reform, yearly and lifetime coverage caps will be prohibited, and denying coverage because of a pre-existing condition will be banned.
• Small businesses with fewer than 25 employees will be exempt from paying a penalty if they don't provide coverage for their workers.
• Individuals will be able to purchase affordable and subsidized health care insurance through the exchanges.

Statistics:

• 25 percent: Increase in insurance premium costs expected for Maryland small businesses in 2010.
• 56 percent: Percentage of Maryland small businesses with fewer than 50 employees that provide health insurance.
• 50 employees: Number of employees that many Maryland small businesses have, making health insurance costs a major burden.

Sources:

• Senator Barbara A. Mikulski (D-Md.), U.S. Senator for Maryland.
• Health, Education, Labor and Pensions (HELP) Committee.
• Maryland small businesses.
• Insurance companies.