A new Public Private Strategies poll reveals that a solid majority (58 percent) of small businesses in the US support Medicare for All. Small businesses today struggle to provide health insurance to their employees. Medicare for All would help small businesses, as well as workers.
The 30.7 million small and mid-sized businesses in the US–businesses with fewer than 500 employees–represent 60 million workers, a significant portion of the population. They also represent more than 99 percent of employers. Nearly half (47 percent) of private sector jobs are with small businesses. And small businesses create two-thirds of new private-sector jobs.
Both administratively and financially, small businesses are challenged to provide their workers health care coverage. Three in four small businesses say that health care costs are a major concern. More than one in three of them say health insurance costs are their primary challenge as a business. Health insurance costs threaten their ability to compete in the marketplace.
As health care costs have grown, small businesses have shifted an increasing portion of the health insurance premium to their workers. They have also raised employee deductibles and copays in order to manage their costs. Many small businesses have stopped providing health insurance to their workers. They can’t find an insurer that will offer their workers affordable coverage.
In short, it makes sense that the majority of small businesses support adding benefits to Medicare and expanding it to guarantee coverage to all Americans. More than one in three (34 percent) strongly support Medicare for All and nearly one in four (24 percent) somewhat support it. The private health insurance system is not meeting their needs. Medicare for All would.
As Wendell Potter, President of Business for Medicare for All, explains, “Medicare for All is the only solution to our healthcare cost crisis that will offer relief to workers and small businesses alike.”
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