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The Future of Healthcare and Small Businesses (view source)
Revision as of 11:54, 15 November 2017
, 11:54, 15 November 2017no edit summary
{{McNair ProjectsBlogPost|Project TitleHas title= The Future of Healthcare and Small Businesses (Blog post),|Topic Area=Entrepreneurship, Social Factors in Entrepreneurship, Health Care,|OwnerHas author=Meghana Gaur,|Start TermHas content status=Fall 2016,Tabled|End TermHas processing notes=n/a,|Status=Active|Stage=DRAFTED,|Deliverable=Blog Post,|Audience=General Public,From Tay: should we table this piece or look into rewriting it with Trump's plans in mind?|Primary BillingHas project status=AccMcNair01,Repurpose
}}
When analyzing the effects of the Affordable Care Act (ACA) on small businesses in light of the status quo and general trends of the health insurance market, it seems unlikely that the bill will turn out to be the job-killer or enemy of small business it was predicted to be. Although insurance premiums and deductibles are likely to rise, they have not had detrimental effects on economic growth in recent years. Ex-Congressional Budget Office (CBO) Head Douglas Elmendorf, who chaired the office until 2015, said in an interview with the Bloomberg Bureau of National Affairs (BNA) that the “ACA has not seen the kinds of increased costs and disruptions in the insurance market that critics had feared.” [http://www.bna.com/excbo-chief-elmendorf-n17179927007/]
==What is the outlook of Obamacare in 2016?==
Still even more uncertain than the effects of the ACA on small business is the future of the ACA act itself. While 2016 Democratic Presidential Nominee Hillary Clinton vows to defend the ACA, strengthen its benefits, and minimize any detrimental effect on small business, [https://www.hillaryclinton.com/issues/health-care/] Republican Candidate Donald Trump vehemently opposes the act, stating that he will request a congressional repeal of the Obamacare on his first day in office. [https://www.donaldjtrump.com/positions/healthcare-reform]
The CBO and JCT forecasted that repealing the ACA would increase the number of uninsured non-elderly people by about 19 million in 2016 and by roughly 24 million in “all subsequent years through 2025, compared with the number who are projected to be uninsured under the ACA.” This amounts to an average annual increase of approximately 8 million, with coverage purchased individually or obtained through Medicaid falling by between 30 and 32 million. [https://www.cbo.gov/publication/50252]
