REPORT: Obamacare to Mean Higher Premiums for Small Business

Date: February 25, 2014

Gregg Thompson, state director of the National Federation of Independent Business, 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’ latest report says the health-care law is going to cause premiums to rise for 11 million people, particularly those who work for small businesses.

“I don’t care what the administration says. This isn’t the Affordable Care Act. It’s the Unaffordable Care Act.

“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.

“CMS’ findings are consistent with NFIB’s own research into the impact of the health-care 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.”

Click here to download the full report here (PDF).

NFIB is North Carolina’s largest small-business assocaition, with over 8,000 dues-paying members representing a cross section of the state’s economy.

Image: Jayron32 of English Wikipedia 

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