Capito
Touting Reforms To Help Small Businesses
"Small businesses are
There were an estimated 119,806 small businesses in
The Small Business Fairness Act, or H.R.525, was passed by
a vote of 263-165. The act allows small businesses to pool their resources into
a group health plan and purchase health insurance collectively, crossing state
lines to bargain for lower rates from national insurers.
"The opposition to this reform has said that the
national insurance program will take away autonomy of state insurance
laws," Capito, a Republican, said. "For example, if insurers in
Of the 45 million uninsured Americans, nearly 60 percent
are employed by small businesses, according to the U.S. Chamber of Commerce.
Congressional research indicated that 2 million previously uninsured people
would receive health insurance, and that 7.5 million people total would receive
inexpensive insurance under the act.
The research estimated that the average business would save
15 percent to 30 percent of current health care costs, due to small business
owners having the bargaining power of collective negotiations.
With the Small Business Fairness Act passed in the House,
it moves to the Senate for discussion and voting in September. Known as S.406,
it is expected to receive changes and further regulations before approval by the
Senate. Once approved, President Bush, who Capito said supports the plan, is
expected to sign it into law.
"Health insurance costs have reached a fevered pitch
and I expect the bill to pass this year because of the momentum it has
gained," Capito said. "The backbone of