Small business owners may cut health insurance
The recession is forcing some owners to cut insurance or staffThe unemployment rate hit 8.9 percent in April, many small businesses are having trouble borrowing money, and homeowners are watching the price of their properties fall from earlier peaks.
These are just a few of the sour stories emerging as the recession takes a toll on consumers and entrepreneurs alike.
But an article from the Wall Street Journal suggests that small business owners are increasingly faced with a new pressing dilemma - to keep paying for employees' health insurance or to lay off workers.
The Journal profiles one small manufacturing company that is cutting employee coverage because premiums have climbed too high and revenue has dropped off.
Meanwhile, earlier this month Health and Human Services Secretary Kathleen Sebelius and the director of the White House Council on Women and Girls, Tina Tchen, gathered together a group of women business owners to discuss the topic of healthcare reform and health insurance affordability for small business owners.
Many companies that continue to offer healthcare see other parts of the business suffer due to the expense, noted Sebelius and Tchen.
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Posted: May 26, 2009
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