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Marketplaces for Health Insurance would Benefit Small Business
Published on Jul 18, 2011
Read 'Marketplaces for Health Insurance would Benefit Small Business' at 'Time to Start Up,' the small business blog by BizFilings.
With the passage of the Patient Protection and Affordable Care Act in 2010, states were made responsible for setting up their own health insurance exchange programs. According to a column by John Arensmeyer, CEO of Small Business Majority, "if lawmakers set up these marketplaces correctly, this legislation will help small business owners provide quality, affordable health insurance policies just like those of big businesses."
States are given the option to set up their own marketplace, or have the Department of Health and Human Services set it up for them if they miss the 2014 deadline. Arensmayer says, small businesses would greatly benefit from the states setting up their own marketplace.
"With each state setting up their own marketplace, they are much more knowledgeable of the needs of their small businesses", writes Arensmeyer. The Center for American Progress and Small Business Majority created a report in early July to show legislators how to conceive a health insurance exchange to drastically lower premiums for small businesses.
One state that that is already planning to pass legislature on the health insurance marketplace is Oregon. In June, Governor John Kitzhaber said he would sign Senate Bill 99, approving the Oregon Health Insurance Exchange.
“Oregon’s health insurance exchange puts the power into the hands of consumers and small businesses,” said Kitzhaber.