By Ireland Owens, Daily Caller News Foundation •
(DCNF)—Soaring health care costs are placing major financial strain on American small business owners.
The ability to afford health care has emerged as a key concern across the nation ahead of November’s midterm elections. Several analysts told the Daily Caller News Foundation that some Main Street businesses are struggling due to skyrocketing health costs, including having to scrap bonuses, facing difficulty hiring new employees and conducting layoffs.
Many small businesses have had to reduce employee hours amid rising health care affordability concerns, according to Tyler Dever, principal of federal government relations for the National Federation of Independent Business (NFIB).
“Small businesses are being squeezed by the rising cost of health care, forcing small business owners into an impossible dilemma,” Dever told the DCNF. “They can either absorb higher premiums and cut back elsewhere — such as reducing hours, laying off workers, or eliminating bonuses — or drop health coverage altogether, which would put them at a disadvantage when competing for talent.”
Dever also claimed President Donald Trump’s administration could help bring down health care costs by “expanding access to more affordable [health care] alternatives outside the traditional small group market.”
“One immediate step the Administration could take today is restoring and extending Short-Term Limited Duration Insurance, which was previously available for up to three years but shortened by the Biden administration in an effort to drive more people to the Obamacare marketplace,” Dever said.