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Small businesses face a big retirement challenge

Investment News
Topics:
Retirement Security

"Small business owners want to offer the kind of benefits that will help them attract and retain talented workers, while also helping their employees save for their futures," said John Arensmeyer, founder and CEO of Small Business Majority, an advocacy organization for small businesses and freelancers.

"Unfortunately, retirement plans are often too expensive or too difficult for small employers to provide, so these firms need options that are easy to administer and also make sense for small businesses' bottom lines," Mr. Arensmeyer said.

Small...

Businesses Applaud Representative Coffman’s Actions to Preserve Net Neutrality

American Sustainable Business Coiuncil
Topics:
Infrastructure

ASBC has co-sponsored business sign-on statement supporting net neutrality with Main Street Alliance and Small Business Majority. ASBC has also published, "The Business Case for Net Neutrality," which outlines the potential threats facing businesses of all sizes and industries without net neutrality protections. Both may be found here: http://netneutrality.asbcouncil.org.

Small Biz Owners Want Better Retirement Savings Options

The 401k Specialist
Topics:
Retirement Security

The poll, commissioned by the Small Business Majority, found most companies cited the high cost of plans and low resources available for plan administration as the main reasons for not offering 401ks or other retirement savings vehicles.

But data suggest employers aren’t entirely comfortable leaving workers high and dry. An overwhelming number support “a wide array of solutions that would make it easier for small businesses, freelancers and solo entrepreneurs to access retirement benefits,” according to a statement by the organization.

Just under seven in 10 (68 percent) of...

Vicki Shabo Testifies Before Senate Finance Panel on Paid Family Leave

C-SPAN
Topics:
Family Medical Leave Insurance

Vicki Shabo of the National Partnership for Women and Families discusses Small Business Majority's scientific opinion polling that found small businesses strongly support the FAMILY Act.

Rauner Has Opportunity to Help Small Businesses

Chicago Patch
Topics:
Healthcare

Gov. Rauner tends to avoid discussing the Affordable Care Act (ACA), but he has the opportunity to make a loud statement about his support for Illinois small businesses by signing two bills that would help keep healthcare more affordable for the state's small firms by bolstering Illinois' ACA marketplace.

The Illinois General Assembly passed two pieces of legislation this session that would go a long way toward protecting the state's ACA marketplaces from bad policy favored by the Trump administration.

Another Voice: Lawsuit threatens small businesses' ability to provide retirement benefits

Sacramento Business Journal
Topics:
Retirement Security

A great program that would benefit California’s small businesses is now threatened by a federal lawsuit, and if successful this legal challenge would be a devastating blow to the many small firms that struggle to offer the kind of retirement benefits typically found at large corporations.

The lawsuit questions the constitutionality of CalSavers, which when implemented, will give more choices to small businesses that don’t offer retirement programs. CalSavers is a public-private partnership that will allow private-sector employees to contribute to an individual retirement savings...

Online sellers consider how to comply with sales tax ruling

Associated Press
Topics:
Tax and Budget Reform

But to brick-and-mortar stores, the ruling righted a decades-old imbalance that favored internet retailers and led to the demise of thousands of merchants.

"They've been getting an unfair advantage for 20 years. As much as I like the internet, real harm has been done," says Mike Brey, owner of two Hobby Works stores in Maryland. Brey, who also has an online business, has closed three stores. He plans keep building his internet business, and expects his company will eventually pass whatever thresholds are set in all the states.

Medicaid Expansion Is a Huge Win for Virginia’s Small Businesses

Morning Consult
Topics:
Healthcare

As a small business owner, I’m grateful that Virginia finally expanded Medicaid. This development is personal to me because one of my best employees might still be alive today if he could have enrolled in Medicaid several years ago when the commonwealth first had the chance to expand the program under the Affordable Care Act.

Now that more people will be eligible for Medicaid in Virginia, more low-income workers will be able to enroll. This is critical to small businesses like mine because so many small firms don’t have the resources to offer health benefits.

The trade-off that comes with association health plans

Washington Post
Topics:
Healthcare

The Labor Department issued a final rule authorizing the expansion of association health plans over the objections of virtually everyone who weighed in on the proposal, including small businesses. Such broad opposition was with good reason.

The new rule may make it easier for a few small businesses with younger and/or healthier employees to purchase association health plans, but the trade-off is that these plans will cause the insurance market for small businesses to split, leading to major increases in premiums. These multistate plans will not have to include protections for people...

Obamacare faces new life-threatening conditions

CBS MoneyWatch
Topics:
Healthcare

But advocates worry that the move is a return to the bad old days before insurers had to adhere to standard regulations that protected consumers from paying insurance premiums, only to find coverage wasn't there when they needed it.

"The new rule will allow groups of businesses to band together to buy insurance across state lines, which will be bad for small firms and their employees because it will lead to higher premiums, unbalanced risk pools and lower-quality insurance," said John Arensmeyer, founder and CEO of Small Business Majority.

Obamacare faces new life-threatening conditions

CBS News
Topics:
Healthcare

"The new rule will allow groups of businesses to band together to buy insurance across state lines, which will be bad for small firms and their employees because it will lead to higher premiums, unbalanced risk pools and lower-quality insurance," said John Arensmeyer, founder and CEO of Small Business Majority.

Trump administration finalizes expansion of association health plans

Fierce Healthcare
Topics:
Healthcare

Even small business groups were disappointed with the final rule. In a statement, Small Business Majority founder and CEO John Arensmeyer said expanding AHPs would harm the small group market and criticized the administration for doing “all it can to undermine the [ACA] regardless of the consequences.”

“While the new rule may make it easier for a select number of small businesses with younger and/or healthier employees to purchase association health plans that might be cheaper in other states, the tradeoff is that this will cause the insurance market for small businesses to split in...

Stakeholders At Odds As Trump Administration Finalizes AHP Rule

Inside Health Policy
Topics:
Healthcare

The Trump administration on Tuesday (June 19) finalized a highly anticipated rule expanding the ability of employers to band together to create association health plans (AHPs) that supporters say offers consumers more coverage choices and detractors worry will destabilize existing markets and put consumers at risk of inadequate coverage. The rule keeps many of the proposed provisions on non-discrimination but does not restrict ratings based on non-health factors, including age and geography. DOL also responded to feedback and will now require an AHP to have at least one business purpose...

Small Business Organization of the Week: Small Business Majority

Soar Payments
Topics:
Entrepreneurship

If you’re an entrepreneur, small business owner, or just working in a small business, you’ll inevitably run into challenges as you work to grow. You also could benefit greatly from connecting with others in your niche, or just having some extra guidance. With that in mind, we want to honor organizations that are bringing business owners, future business owners, and even employees from many different areas together.

That’s why every episode we’ll recognize and award a small business organization or group of the week. We also will look to PayPod listeners to give us nominations. If...

Association Health Plan final rule could cost consumers millions of dollars

Keystone Business Daily
Topics:
Healthcare

John Arensmeyer, founder and CEO of Small Business Majority, said that if the current U.S. Department of Labor proposal for association health plans becomes a rule, it would be easier for a few select small businesses with younger and healthier employees to purchase health plans that might be cheaper in other states.

"The tradeoff, however, is the small-group insurance market would split in two—one pool for businesses that want bare-bones plans and one for firms that need more comprehensive coverage," Arensmeyer told Keystone Business News. "This would eventually lead...

Lopsided Support for Obamacare Seen in Red State Suit

Bloomberg Law
Topics:
Healthcare

The elimination of the Medicaid expansion and federal financial assistance that helps people buy insurance in the individual market would have untoward impact “on the 20 million people with low to moderate incomes who would lose meaningful coverage, including 12 million people who get coverage through the Medicaid expansion and 8 million who purchase coverage on the individual market using federal subsidies,” Families USA said in a brief joined by Community Catalyst, the National Health Law Program, the Center on Budget and Policy Priorities, and the Texas-based Center for Public Policy...

Broad health-care coalition opposes administration stance in anti-ACA lawsuit

The Washington Post
Topics:
Healthcare

Also weighing in were three hospital trade groups, the Association of American Medical Colleges, and five major groups advocating for patients with diseases, including the American Cancer Society, the American Heart Association and the American Lung Association. The liberal consumer-health lobby Families USA, the Small Business Majority, a group of law professors and a separate group of health-care and economic researchers also filed briefs.

ACA destabilization will cost small businesses

Southern Maryland News
Topics:
Healthcare

The Trump administration’s efforts to destabilize the Affordable Care Act (ACA) will result in many of Maryland’s small businesses paying more for health insurance next year.

The Congressional Budget Office said premiums for healthcare plans purchased through the ACA exchanges will rise by an average of 10 percent in 2019, thanks to the administration’s efforts to undermine the ACA as much as possible by proposing rules to expand association health plans and junk insurance plans, and by repealing the individual mandate. This news is devastating for small firms since more than 60...

Letter: Trump’s efforts to undermine ACA will cost small companies

San Jose Mercury News
Topics:
Healthcare

Re: “Trump administration won’t defend the ACA” (Mercurynews.com, June 7):

The Trump administration’s efforts to destabilize the Affordable Care Act will result in many of California’s small businesses paying more for health insurance next year.

The Congressional Budget Office said premiums for health care plans purchased through the ACA exchanges will rise by an average of 10 percent in 2019, thanks to the administration’s efforts to undermine the ACA as much as possible by proposing rules to expand association health plans and junk insurance plans, and by repealing the...

Trump administration should heed small business' concerns about association health plans

Harrisburg Patriot-News
Topics:
Healthcare

The Trump administration is expected to release a plan soon that it claims would help lower costs for small businesses struggling to afford health insurance, but the truth is this proposed rule will not fulfill that need.

If enacted, the rule proposed by the U.S. Department of Labor (DOL) would make it easier for insurance companies to sell health insurance across state lines, which would theoretically encourage groups of businesses, such as trade associations, to band together to form what are known as association health plans, or AHPs.

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