For those who have followed the trends, it’s startling news. Insurers are reporting that more small employers are signing up for coverage for their workers, as reported by Noam Levey of the LA Times.
For years and years, we’ve seen a gradual erosion in employer-based coverage, centered with small businesses but including medium and large businesses as well. This has been consistent during prosperous times as well as recessions.
So a reversal of that trend is big news–and it’s just one impact of the new federal health law. There is a new significant tax credit for small employers offering coverage to their workers, and it’s having an impact.
Let’s hope the press picks up on these positive developments from the law. This weekend, on Meet The Press, a political panel broached health reform, even though it was clear they knew very little about the subject. Bob Woodward said he “knew a guy” who read the law twice, and Tom Brokaw was just wrong in talking about the costs to small business–he didn’t realize that there is no requirement on small businesses, but rather a tax credit.
And one that is helping small businesses, and their workers.