Please repeal Obamacare, it is destroying jobs in this country and is already taxing businesses into closing. If you care even a little about the middle class as you so adamantly said you did during your reelection campaign, than you will repeal it so the middle class can get back to work.
Response to Petition
Thanks for your petition. We appreciate you weighing in on this issue, and we’re glad we have a chance to talk to you about the health care law and its impact on small businesses.
There are a lot of myths out there about the Affordable Care Act. The idea that the health care law will somehow cripple the economy is absolutely one of those myths.
The health care law won't hurt jobs or the middle class, and it won’t force small businesses to close up shop. It will, however, make health care more affordable and expand health insurance coverage to millions of Americans in a way that allows our nation’s businesses to continue to thrive.
First, the Affordable Care Act puts an end to insurance company practices that hit the middle class and businesses. Already, because of the law, insurance companies can no longer deny coverage to children with preexisting conditions, cancel coverage when people get sick, or place lifetime dollar limits on the amount of care you can get. The law also allows young Americans to stay on their parents’ insurance plans for a few more years. And most insurance companies now have to justify double-digit rate increases and provide consumers with rebates when their overhead and profits are too high. We hope you’ll agree that those are all good things for our country as a whole.
Starting in 2014, we’ll provide tax credits that help the middle class for insurance purchased through the Health Insurance Marketplace that reduce the amount you pay in premiums each month. We’re also improving coverage for women to make their care more affordable and looking out for seniors on Medicare.
As we look out for middle-class Americans, we’re also looking out for the economy as a whole, and small businesses in particular.
So as the health care law is implemented, we won’t put any new requirements on firms with fewer than 50 employees -- but we’ll make it easier and cheaper to offer coverage if they want to do so.
Beginning in 2014, small business owners will have access to a Small Business Health Option Plans (SHOP) Marketplace -- which opens for enrollment on October 1st -- that will give small business the same purchasing power as large businesses and allow them to make side-by-side comparisons to find a plan that fits their budget and that’s right for their businesses and employees.
The Affordable Care Act and the Marketplaces will bring down costs for those small businesses that choose to provide insurance. Currently small businesses pay on average 18 percent more on average than large businesses for the same benefits -- which will change when insurers compete for small businesses through SHOP.
Small businesses are also seeing savings thanks to new tax credits available to help them cover their employees. Small businesses with fewer than 25 employees that provide their employees with health insurance are eligible for tax credits that cover up to 35 percent of their premiums. Starting in 2014, that credit will cover up to 50 percent.
Thanks for allowing us to talk to you about this issue, and for your participation on the We the People platform. We know that you care about the middle class and small businesses. We do too. As President Obama has said about the nickname Obamacare: “I actually like the name because I do care.”