Small businesses dominate the rural economy. In fact, they dominate the American economy in terms of the number of business firms. So it’s important to know, understand, and accurately portray the effects of the newly adopted health care reform law, on small businesses.
With increasing insurance costs many rural small employers are finding it difficult to continue providing health insurance coverage for employees, exacerbating the issues of uninsurance, underinsurance, and health care costs for many rural people. Taken together, these issues act as barriers to creating a strong rural economy based on entrepreneurial development.
The Affordable Care Act will begin to lower these barriers for many rural small businesses. While exempt from mandates requiring insurance coverage for employees, the tax credits provided by the law will make health insurance more affordable for businesses and provide an incentive to help insure employees.
Over time as the primary features of the law are implemented and take effect, particularly the Health Insurance Exchanges, rural small employers will reap the
benefits of pooling and larger group coverage that provides comprehensive, affordable, and continuous health care coverage for their business and their employees.
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