Thursday, July 22, 2010

New Report Shows Impact of Health Care Reform Law on Wisconsin Small Businesses

Over 86,000 Wisconsin small businesses will be eligible for major tax break to make health care more affordable

Appleton & Milwaukee : On a media call Wednesday afternoon, Citizen Action of Wisconsin co-released a new report by Families USA and Small Business Majority on the benefits of the new health care reform law for Wisconsin small businesses. Congressman Steve Kagen, MD, (D-Appleton) was on the call to comment on the benefits to Wisconsin small businesses in the new health care law.

The report, “A Helping Hand for Small Businesses: Health Insurance Tax Credits,” found that more than 81,600 Wisconsin small businesses are eligible for the credit, which is 86.8% of Wisconsin small businesses with less than 25 workers. Of those small Wisconsin small businesses, 25,800 are eligible for the maximum tax credit.

The full report can be downloaded at from the reports section on the front page.

Wisconsin will especially benefit from the small business provisions of the new health care law. According to Kaiser Health Facts, only 36.8% of Wisconsin employers with less than 50 workers provide coverage, down from 58% a decade ago. (The national average is 41%). There is very strong research which shows that the reason small businesses are dropping health coverage is cost, and that most want to provide coverage for themselves and their employees.

“There’s money on the table for small businesses, the real economic engines of our economy,” said Congressman Steve Kagen, MD (D-Appleton)

“The new health care tax credit has been under the radar for many small businesses, but it could be the real tipping point for them to afford health coverage for themselves and their employees,” said JeanMarie Hinds, the owner of TaxxDog, a tax and accounting service in Appleton Wisconsin that advises small businesses throughout the Fox Valley .

“The new health care reform law provides immediate and vital relief to Wisconsin ’s small businesses who have been forced to drop coverage by skyrocketing health insurance costs,” said Robert Kraig, Executive Director of Citizen Action of Wisconsin. “Based on this report and other national research, we estimate that over 21,000 Wisconsin small businesses have been forced to drop health coverage over the last decade. The new health care reform immediately addresses this devastating trend by providing unprecedented access to affordable health insurance for Wisconsin ’s hard strapped small businesses,” Kraig concluded.


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