A new bill aims to lower healthcare costs by making insurance premiums more affordable for small businesses. Pennsylvania Congressman Joseph Pitts is a co-sponsor of the Small Business Choice Act of 2008. This bill was introduced in Congress July 23.
Congressman Pitts says the bill will give tax credits to small business owners to purchase health care for their employees. Pitts says, “it’s going to be a significant savings for the small business person. Most of our jobs in this country are provided by small businesses so this will open up a lot to health insurance coverage who don’t get it.”
According to the National Coalition on Health Care, premiums for employer based health insurance rose by 6.1 percent in the past year. For small businesses, premiums increased 5.5 percent in 2007.