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Health and Human Services report says health reform would cut small business costs
By DOUGLAS CHAN
Posted: 11/18/2009 6:24:39 PM

A report new report published by the U.S. Department of Health and Human Services argues that health reforms currently under consideration by Congress would lower costs for small businesses.

According to the report, current plans for a health insurance exchange would lower the projected increase in costs for individual insurance premiums by 2016 to $5,000, from $6,700 under the current system.

"Across the country, America's businesses are struggling as the cost of health care continues to skyrocket," wrote Health and Human Services Department researcher Meena Sheshamani.

The report said that health insurance tax credits could save small firms up to 35 percent off current premium costs under the Senate Finance bill by 2011, or 50 percent off under a combination of the Senate Finance and House bills by 2013. In addition, universal health coverage, as well as limits on administrative costs, could result in additional savings for small business that purchase health insurance plans.

In releasing this report, the Health and Human Services Department may have been trying to counter the claims of small business groups such as the National Federation of Independent Businesses that health care reforms would only add to the financial woes of small business owners, due to the inclusion of employer mandates on health insurance coverage.




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