Across America many small-business owners are cheering at the GOP win on repealing and replacing Obamacare. Staying the course In the meantime, to rein in costs, business owners are opting to buy high-premium policies or self-insure. Among respondents, 60 percent favored an ACA repeal.
We'll find out how many of them buy individual insurance from the Obamacare exchanges in our next post. All Rights Reserved.
Entrepreneurs are also hoping the legislation will protect people with preexisting medical conditions. I have reported on entrepreneurs, and the politics and policies that affect them, for The New York Times and Inc.
To put that in perspective, the Kaiser Family Foundation reports that by December 2015, 16 million more people had enrolled in Medicaid than in the months prior to the Affordable Care Act.
News Tips Got a confidential news tip? A couple weeks ago, we caught up with Walt Rowen, the Pennsylvania entrepreneur who three years ago canceled his group health policy so that his employees could buy better, cheaper coverage on the government-run health insurance exchanges created by the Affordable Care Act.
Genia Gore, for instance, has become an expert at reigning in healthcare costs at family run Gore Travel Plaza — a large gas station in Seiling, Oklahoma — and Gore Nitrogen, a company that delivers nitrogen to oil wells.
Some Americans who have bought high-deductible plans to lower their premiums — a popular strategy amidst rising premiums — have found that high out-of-pocket costs make getting medical care unaffordable. Spoiler alert: But Rowen's experience made me wonder how many small business employees have found individual insurance through the Obamacare. We want to hear from you. As I reported in a blog post published at the end of June, Rowen scrubbed his experiment last year.
But what about small-business owners? Jul 11, 2017, 01: He purchased a high-deductible plan for his family. Instead of providing a conventional health-care plan to the full-time employees at the 100-employee filling station and 80-employee nitrogen delivery service, Gore and her co-owners have opted to self-insure. Lewis believes the outcome of the bill will be unclear until it comes before the Senate and gets sent back to the House.
Although the House approved the bill, "it's not going to get to the Senate for weeks, if not months," says Goldstein. This continues a trend that the Kaiser Family Foundation has documented since at least the turn of the last century. In the meantime, to rein in costs, business owners are opting to buy high-premium policies or self-insure.