An Economic Case for Health Reform
Businesses will benefit from reform too
As health care reform discussions intensify and legislation is being prepared for debate, Cover Missouri has increased the number of bulletins over the past five weeks.
Cover Missouri Bulletins will now resume their regular biweekly schedule. Cover Missouri will continue to provide you with timely health coverage news at www.covermissouri.org.
Health care reform is a vital component for improving the stability of the U.S. economy. Health care spending has tripled over the past 20 years as more businesses and individuals struggle to afford health coverage. Costs show no sign of slowing without health care reform.
Businesses are a primary source of health insurance in the U.S., providing coverage for almost 60 percent of Americans. Most large businesses still provide coverage for their employees while small businesses struggle to afford the cost of coverage. An estimated 27 million uninsured individuals work for small businesses. Small firms say high insurance premiums are the main reason they do not provide coverage to their employees.
Despite the cost, health coverage has several benefits for businesses. Workers with insurance have fewer sick days and shorter periods of illness. Employers offering health coverage have lower turnover, which reduces hiring and training costs.
In order for businesses to remain competitive, changes in the health care system must occur. Key reforms impacting employers and their workforce currently being discussed at the federal level include:
- Containing health care costs;
- Ensuring access to preventive care; and
- Providing coverage for the 37 million uninsured Americans from working families.
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