there is another matter that is extremely important for small businesses in this country; that is, the high cost of health insurance. I have, along with my colleague, Senator Hutchinson from Arkansas, introduced a measure to authorize association of health plans so small businesses can come together in trade associations or other multistate bodies with similar interests to purchase their health insurance with a large pool. If you purchase as an individual or as a very small business, it is like going into the store and buying soda one can at a time. You can't get a very good price. It also costs you a lot more in administrative costs to administer that plan if you are the sole administrator. From the health insurance standpoint, you don't share the risks over a broad group of people so that you can make an actuarially sound determination of how much health insurance costs. We have seen health insurance costs rising all across the Nation. Early last month, I hosted my second National Conference for Women and Small Business Owners in St. Louis. And not surprisingly, some 72 percent of them said providing health insurance, which is extremely costly, was one of the most important challenges they face. We also found another statistic that I found very amazing. We have 39 or 40 million people without health insurance in the country today. That is far too many.…
Editor's note · Context
Addressing the high cost of health insurance for small businesses.
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