Historically, small businesses have faced punitive healthcare costs, paying on average 18% more than their large business counterparts. This places an economic burden on small business owners and their employees that has led to distressingly high numbers of uninsured or underinsured workers. New scientific polling shows the rising cost of prescription drugs also are becoming a major concern for our nation’s small business owners.
Three years ago, Howard Paul started Howard Paul Photography for Communication and Commerce in Denver, Colo. But before opening his business, Howard was an EMS first responder, and eventually held an Executive Director position for the EMS Association of Colorado. Needless to say, thanks to his 31-year long career in emergency services, Howard is not easily rattled. However, mountain rescue missions pale in comparison to the terror he feels knowing that he could lose his health insurance in a matter of months.
Walking into Trolley Car Diner in Philadelphia is like traveling back in time to a period when poodle skirts were all the rage and Elvis was king. Despite the diner’s 1950s décor, its owner, Ken Weinstein, is dealing with a very present-day issue: access to healthcare for his employees.
At Designing Local in Columbus, co-owners Josh Lapp and Amanda Golden are passionate about creating inspired community design projects that highlight local attributes. Their goal is not only to increase an area's aesthetic value, but to build relationships among the citizens who participate in these projects. It is a noble and unique effort to try to increase the quality of life in communities around the country, but the future of Designing Local will be in jeopardy if these entrepreneurs no longer have access to affordable health insurance.
American business is small business; of the 28 million firms in the United States, just 17,500 are large corporations. Small businesses contribute close to half of our $18 trillion national GDP and contribute nearly 10 percent of the world’s GDP. Yet for all that small businesses do, some lawmakers have made it a mission to destroy one of the biggest victories in decades for American small businesses: the Affordable Care Act (ACA).
Fifteen years ago, Andrea Deutsch decided to leave her position at a Philadelphia law practice to pursue her dreams of become a small business owner. She opened up a shop in the small town of Narbeth, PA called Spot’s—The Place for Paws, where she sells healthy food, treats, toys, and accessories for dogs and cats. Despite starting a new life, this former attorney could not completely sever her ties from the Philadelphia Bar Association. That’s because before the passage of the Affordable Care Act (ACA), they provided her only health insurance option because of her Type 1 diabetes.
As the owner of Pioneer Overhead Door in Las Vegas, Nevada I wear many hats: I’m the president, the general manager and most of the time I answer the phones. I have a lot of parts to play each day on the job and a lot of responsibility. That’s why I’m grateful for the fact that I haven’t had to worry about purchasing my group health insurance in years.
As more small businesses look to enhance employee compensation and satisfaction by adding health insurance to their benefit packages, an important partner is an insurance agent specializing in the small group market.
It’s an important relationship, says Michael Lujan Co-founder and chief strategy officer of Limelight Health Inc. in Sacramento, and it’s a relationship not to be entered into lightly.
When it comes to health insurance, small businesses are deciding that price matters, but so does brand. In fact, a growing number of companies are turning to Covered California for Small Business to provide name-brand health coverage for their employees.
With the open enrollment period for health insurance rapidly approaching, many small business owners are probably starting to think about their plans for next year – and with lots of recent rumblings about the Affordable Care Act’s (ACA) success, some small business owners may be worried about their options. But for California’s small business owners, there’s actually plenty of good news about the ACA.