Will Small Businesses Have to “Pay Or Play”?

Take a look at the following ARTICLE from CBS News and related VIDEO.

My favorite quotes:

“The idea is everybody pays in a little bit more to make it work better for everybody else,” explained Peter Harbage, a senior fellow at the Center for American Progress, a liberal think tank.

A 2008 National Small Business Association survey showed a only 38 percent of small businesses were able to afford insurance for their employees last year – down from 67 percent in 1995. Since 1989, small businesses have created 93.5 percent of all net new jobs, according to the association.

A recent study by the National Federation of Independent Business Research Foundation concludes that an employer mandate could eliminate 1.6 million jobs over the course of five years and reduce GDP by around $200 billion. The study assumed the mandate would require all employers (including small businesses) to offer private health insurance, and that employers would have to finance at least 50 percent of their employees’ health insurance premiums.

The winds of change are blowing – like a hurricane!  It is a good idea to be prepared.

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