Academic journal article Journal of Accountancy

Health Care Reform Plans to Affect Small Business

Academic journal article Journal of Accountancy

Health Care Reform Plans to Affect Small Business

Article excerpt

The cost of three leading health care reform plans being considered by a Clinton administration task force would threaten the financial viability of many businesses and place jobs at risk, according to a study conducted for the National Federation of Independent Business. The percentage of jobs at risk would be greater in small businesses than in large ones.

The 21st Century American Health System would require employers to pay between 50% and 100% of the average health care premiums for full-time workers and impose an 8% payroll tax on all part-time wages. The study found the plan would threaten nearly 18.3 million jobs, or 21.4% of total private-sector employment.

The HealthAmerica Plan, introduced by U.S. Senate majority leader George Mitchell (D-Me.), would require companies to pay 80% of each full-time employee's health care premium and 50% of the premium for each part-time employee. The study found the HealthAmerica plan could affect the jobs of almost 12.2 million workers, or 14.2 of total private-sector employment

A third plan, offered by California Insurance Commissioner John Garamendi, would combine the medical components of worker's compensation and automobile insurance into a single comprehensive health package, to be funded by a 7. …

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