CMS Report: Two-Thirds of Small Businesses Will See Premium Hikes under Obamacare
House Small Business Committee Chairman Sam Graves (R-MO) released the following statement on the Office of the Chief Actuary at the Centers for Medicare and Medicaid Services’ (CMS) report on the impact of the health care law on small business health care plans:
“Earlier this month, the nonpartisan Congressional Budget Office provided economic data that echoed what many small businesses have been telling us – that the health law is killing jobs and harming the economy. The bad news keeps mounting and our nation’s best job creators are paying the price. Also this month, the National Small Business Association released a detailed report that the overwhelming majority of small companies would suffer health insurance cost increases, and now the federal government’s CMS agrees.
“The Obama administration’s long delay of this CMS report is consistent with the rest of the law – behind schedule and bad news for small business. The fact that two-thirds of Americans who work at small businesses will see premium increases because of the health law is devastating news. This is one more in a long line of broken promises from President Obama and Washington Democrats.”
The 2011 Budget Control Act mandated that this report be completed 90 days after enactment of that law. However, two years later, the report was posted by the Obama administration late on Friday, February 21, 2014.