Affordable health care has long been a cause of concern for small business across our country with the cost of coverage has consistently ranked at the top of small business owners’ concerns. And now, amid a global health crisis, health coverage is more important than ever. As someone with years of experience working in the healthcare industry and alongside businesses, I have seen firsthand how the small business community faces unique challenges when it comes to employer-sponsored benefits.
There is no doubt that each employer wants to give employees the best benefits possible. Not only is it the right thing to do, but it makes small businesses competitive, attracting a more skilled workforce and helping to keep employees healthy. However, the large majority of small business owners run on extremely small margins, and as health care costs continue to rise, it is even more difficult to provide employees with quality health care coverage.
Alabama is known for our friendly small business community, inviting many small employers to plant their roots in the Yellowhammer State. This is why we’re proud to have over 380,000 small businesses that employ over 765,000 of our state’s residents. Small businesses are, and always have been, the backbone of our economy. Alabama laws historically promote competition and small business growth but despite this, we still need our federal lawmakers to support us, especially at a time when businesses are struggling.
Today, with the pandemic continuing to spread across our state, small business owners are struggling to stay in business, and they are bracing for the full financial impacts of COVID-19. It is a devastating situation to be in and our small business community cannot survive on its own.
Fortunately, we have very dedicated small business champions in Washington, D.C. who have been working tirelessly to ensure any federal COVID-19 relief includes small businesses.
Even before the COVID-19 pandemic hit, Senator Doug Jones and Congresswoman Terri Sewell supported bipartisan legislation that in 2019 repealed an Obamacare tax known as the Health Insurance Tax (HIT). This erroneous tax increased the price of health insurance for small business owners. Now we need them to further continue that work and work to implement policies that will continue to lower the cost of health care for small business owners, their employees, and their families, especially at a time when having health care is so crucial. A healthy workforce that is ready, and able, to get back to work is vital to our state, and country’s economic recovery.
Small business owners want to continue to provide health care for their employees, but they need Congress’ help to do so. I ask that our elected officials continue to come together to support Alabama’s small business community, especially when it comes to lowering health care costs and making health care more affordable — both as we continue to overcome COVID-19 and long beyond.
Curtis Cannon is a Managing Partner at Axis Recovery and has over 15 years of experience working with health insurance companies, brokers and consulting firms.