Thursday, October 2, 2008

Group Health Insurance, Small Business, and Our Candidates

By Ethan Calvin

This just in on the Presidential Health Care Campaign '08: there is one group that is hit really hard when it comes to health insurance and health care costs rising. That group is small businesses. In this day and age, if a small business can afford health insurance for their employees, it is just shy of miraculous.

When November 4 comes, and a small business owner goes to the polls, who will they vote for? So far, this is where your candidates stand when it comes to small business health insurance. Arizona Senator John McCain, recently accepted Republican nominee oficiale, would like to move away from the employer-based system, while offering tax credits to any individual(s) willing to purchase their own individual health insurance plans. Giving employees more options, for example, purchasing a health plan across state lines, this is McCain's idea of helping small business.

Illinois Senator, Barack Obama is the Democratic nominee. He wants to require all employees to contribute something for health insurance for their workers. He also wants all companies to offer their employees coverage or help in their payment for individual plans. He says small businesses will be exempt. This is not helping to convince small business owners, as he hasn't yet specified the guidelines to qualifying as a small business. One independent business lobbyist is quoted,"We'd like to see more specificity on almost everything. A lack of specificity breeds worries."

The Wall Street Journal reports Obama's economic policy director, Jason Furman, as saying, "We would work with the Treasury to design the appropriate threshold for defining a small business." Obama has a few specific pertaining to small businesses- such as offering a 50% tax refund if they provide the health insurance coverage for their employees. As stated by Obama, "I'm announcing my plan to provide real relief for small business owners crushed by rising costs, an idea championed by my friend Hillary Clinton, who's been leading the way in our battle to insure every American."

We are still unsure of the Wall Street Journal's predictions that John McCain has the edge over Obama in regard to small business health insurance. - 15224

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