Thursday, December 24, 2009

What Does the Senate's Health Bill mean for the Small Business, Startup, Entrepreneur, and Solo-Practitioner Community

Ky Ekinci : Co-Founder Office Divvyby Ky Ekinci
Co-Founder,
Office Divvy


I enjoyed reading an excellent article by Robb Mandelbaum in the New York Times titled "What the Senate’s Health Bill Means for Small Business" summarizing the key points of the Senate's version of the Health Reform.

I learned what the Senate's version of the Healthcare Bill meant for the Small Business, Entrepreneur, Startup, and Solo-Practitioner community, which is whom we at Office Divvy cater to. This is the "summary of the summary" as I understand it:
  1. States will setup programs through which Small Business can buy insurance.
  2. Insurers to treat the entire-client base as a single risk group, which will make the insurance-underwriters' discrimination around age, gender, and health-status go away.
  3. Plan defines any company under 100 employees as a small business (however until 2016 states may chose to limit small-group market to firms under 50)
  4. Smallest businesses (actually most business) will have no obligation to buy insurance, however businesses over 50 will be impacted due to certain formulas around public versus private insurance choices.
  5. "Very Small Business" will receive tax credits to offset 35% of their health insurance costs.

The New York Times also put together an excellent comparison of the Senate version versus the House version of the Health Care Proposals which every small business owner should review...

To a "healthy" and prosperous 2010...

Ky Ekinci
on twitter: @KyEkinci | @OfficeDivvy


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