Impact of Healthcare Law and Medicaid Expansion on Missouri Small Businesses Focal Point of Roundtable Event

St. Louis, MO̢??‰۝Small Business Majority, in conjunction with the Department of Health and Human Services, co-hosted a roundtable today with the St. Louis Regional Chamber of Commerce on the healthcare law, and how transforming the state̢??‰?s Medicaid program could benefit Missouri small businesses. Guest speakers included Sol Ross, HHS Director of Business Outreach, and Rhett Buttle, Small Business Majority's Vice President of External Affairs.

The event allowed Missouri entrepreneurs to engage in a candid conversation with Department of Health and Human Services officials about the new healthcare law and the effects Medicaid expansion could have on small businesses.

̢???It̢??‰?s important for me to get as much information as I can about the new health marketplace and the law in general, so I can make the best decisions about our coverage for my employees,̢???? said Jarek Steele, co-owner of Left Bank Books in St. Louis, who is in the process of enrolling through the small business marketplace. ̢???This roundtable was a great way for me to have an open dialogue with other small business owners and business leaders while learning more about the healthcare law and Medicaid program.̢????

During the event, Small Business Majority̢??‰?s Rhett Buttle also discussed the topics most relevant to small businesses. These included small business tax credits, wellness grants and cost containment provisions. Buttle provided detailed information on the Missouri health insurance marketplace̢??‰۝an online exchange where small business owners can pool their buying power to help drive down insurance costs. Missouri has a federally facilitated marketplace because state lawmakers chose not to create their own. Buttle explained how the marketplace functions and how small employers can join, and also how expanding the state̢??‰?s Medicaid program could benefit small businesses.

Medicaid expansion would cover about 300,000 additional Missourians, most of them low-wage working adults. Because so many working adults would qualify for Medicaid, small businesses that cannot afford to offer their employees health insurance would be better able to compete for workers with big businesses that can offer health insurance. What̢??‰?s more, expanding Medicaid would give a boost to the state̢??‰?s economy, bringing an estimated $8.2 billion additional federal dollars to Missouri between 2014 and 2020 that would help generate nearly $856 million in state and local taxes.

̢???Access to the new health insurance marketplace will provide new options for many entrepreneurs to obtain health insurance for them and their employees. This marketplace will allow small employers to pool their buying power, which can help rein in costs and,̢???? Buttle said. ̢???This event informed small business owners about their options under the new law, and about the benefits of expanding Medicaid, which would give a boost to our state̢??‰?s economy while expanding coverage for thousands of working adults.̢????