Kagen: Health Care Reform is the Key to Economic Recovery
A new report from HHS says the high cost of health care is hurting small businesses
April 24, 2009
Appleton, WI — Congressman Steve Kagen, M.D. says a report released today is further proof that reforming the nation’s health care system is crucial to rebuilding our economy. The U.S. Department of Health and Human Services released a new report this morning – entitled “The Bottom Line: Health Reform and Small Business” – that revealed how the high cost of health care is causing small businesses to discontinue insurance coverage for their employees. The report claims that small employers who do offer insurance suffer rising health costs that hinder their ability to hire more workers and develop their business.
“This report confirms what every small business owner and every family farm owner has been saying for years: the costs for health care are impossible,” said Dr. Kagen. “I am working hard to do what is necessary to get our economy on the right track which includes guaranteeing access to affordable health care for all of us and creating an atmosphere where small businesses can thrive.”
Congressman Kagen, along with representatives from the Small Business Administration, has been touring Northeast Wisconsin to inform citizens of the opportunities available through the Recovery Act including 7 (a) program which enables small business owners to obtain loans of up to $2 million dollars with a sizeable government guarantee and the 504 program which is designed to offer a guarantee on up to $4 million in financing for large-scale economic development projects that can be essential for job growth and community development.
Of the many concerns brought up by small business owners, one of the most major, in addition to access to credit, is the cost of health care. As both a physician and small business owner, Kagen is familiar with this issue.
The report states, “Small business is at the epicenter of America’s health insurance crisis. Across the country, hard-working small business owners are struggling to pay the skyrocketing cost of health insurance for their employees and many are finding that they just cannot do it.”
Kagen agrees, “Small businesses are the economic engines of America. They provide nearly 80% of new jobs and generate 50% of our gross domestic product. I believe that helping small businesses is a key step to building a better future.”
You can read the report by visiting www.HealthReform.gov
