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The Affordable Care Act's impact on small business. Chase, D., &…
The Affordable Care Act's impact on small business.
Chase, D., & Arensmeyer, J. (2018, October). The Affordable Care Act’s impact on small business. Commonwealth Fund.
https://www.commonwealthfund.org/publications/issue-briefs/2018/oct/affordable-care-act-impact-small-business
Issue
expended small-business coverage
Repeal attempts and regulatory threaten
Goal
Examine the ACA impact
Solo entrepreneurs
employees
small business
Background
had high uninsured rates
Over 20 million (small business related)
Faced the reduction of government's regulation
ACA makerspaces & Medicaid expansion = major access points.
Short term plans
association plans
Finding
Uninsured Rates Drop
Small-business employees
2013: 28.1% to 2016: 19.4%
Self-employed adults
2013: 29% to 2016: 19.2%
ACA importance
Entrepreneurs
Freelancers
Low-to-moderate income earners (<40,000)
Medical expansion
Higher enrollment for self-employed and small-business worker
Higher enrollment for self-emplyed and small-business workers
Premium Stabilization
ACA slowed premium growth for small businesses.
Pre-ACA (2008-2010): 5.2%
Post-ACA (2011-2015): 3.1%
Enployee contributions also stablized
Risk exit
Future policy changes may reverse gains
ACA market place enrollees
1 in 5 were small buiness-related
Over 10% small business employee
Employer-Sponsored offer rates
Long-term trend of declining offer rates strarted before ACA
Post ACA decline <1% per year
Conclusion
ACA benefits Confirmed
Coverage expansion
Cost stabilization
Greater access for small business sector
Critical elements
Medical expansion
Individual market place
Need for policy stability
Recommendation: Strengthen ACA mechanisms
Recommendation 2: protect small-business insurance access