You might have heard about a partisan report on how the health care law will affect some businesses across the country. We can’t speak to these individual anecdotes. But we know that analysts and experts have examined the law and concluded that the health care law will reduce costs for businesses. And we know we can’t afford to return to the broken health care system that was threatening businesses and families across the country and put insurance companies back in control.
Over the past decade, health insurance costs for employers who provide insurance to their workers increased by 113 percent. Losses due to productivity and absenteeism related to health are estimated to be more than $250 billion annually. America spends more than 17 percent of GDP on health care, far more than our competitor nations. Health reform will help reduce these costs and put businesses on a stronger financial footing.
In fact, countless experts have also examined the Affordable Care Act and found it includes major reforms that will help control health care costs. A team of economists including several Nobel Prize Winners wrote: “[T]he Affordable Care Act contains essentially every cost-containment provision policy analysts have considered effective in reducing the rate of medical spending.”
Here are some key facts to keep in mind if you’re reviewing the new report. Under the Affordable Care Act:
Some Republicans want to go back to the days when insurance companies could deny your coverage or jack up your rates whenever and however they pleased without any accountability. Republicans in Congress shouldn’t try to refight the fights of the last three years. Instead, both parties need to come together to create an America built to last where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.