Friday, December 9, 2022

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Sen. Markey rallies with unions and airport workers in D.C; PA Democrats 'showed up' for rural voters; Canadian mining expansion threatens tribes and watersheds in the Northwest.

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The U.S. House of Representatives passes same-sex marriage protections, Brittany Griner comes back to the U.S, while Paul Whelan remains detained in Russia, and a former anti-abortion lobbyist talks politics and the Supreme Court.

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The Farm Workforce Modernization Act could help more farmers, the USDA is stepping-up to support tribal nations, and Congress is urged to revive the expanded child tax credit.

IA Small Businesses Get a Lifeline with ACA Credit Extension

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Friday, September 23, 2022   

Average Affordable Care Act premiums in Iowa would have been 72% higher this year without temporary subsidies from the federal government, and small-business advocates say a new extension is a big help when smaller firms are trying to get back on their financial feet.

The Inflation Reduction Act included a provision to extend the ACA's premium subsidies through 2025. The extra tax credits are from an earlier pandemic-relief package and were set to run though this year.

David Chase, vice president for outreach at the Small Business Majority, said the extension removes a lot of headaches during a complicated time for owners of smaller operations.

"Only about half of small businesses are able to offer coverage," he said, "and we've seen that number drop even more since the pandemic, which makes the Inflation Reduction Act even more important."

Since its inception, Chase said, the Affordable Care Act has been a game-changer for small businesses but acknowledges owners still face challenges. He said health-care costs continue to rise, with one recent analysis noting marketplace insurers already were proposing premium hikes for 2023. Policy experts have said the subsidy extension will help buffer those higher expenses.

Shawn Phetteplace, Midwest regional manager of the Main Street Alliance, said any help small businesses can get to keep costs lower is important, since many owners already are at a disadvantage now in the fierce competition for workers.

"A lot of folks go and do jobs - that they're working for large corporations purely to get health insurance," he said. "You have folks who don't start a business because they need health insurance. You have folks that only are part-time with their business because they need health insurance."

The Inflation Reduction Act also will allow Medicare to negotiate some drug prices. Analysts have said that also could help small business owners in the future, because skyrocketing prices have made it harder to select a plan to offer to their staff.


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