FOR IMMEDIATE RELEASE

Media Contact:
Conan Knoll

conan@emccommunications.com

(831)524-6764

Small Business Group Applauds President’s Latest Efforts to Bring Down Healthcare Costs

Statement from Small Business for America’s Future Co-Chair Dr. Erika Gonzalez, CEO, President, & Co-Founder of South Texas Allergy and Asthma Medical Professionals (STAAMP) and STAAMP Clinical Research, on President Biden’s new actions to rein in the cost of healthcare

Washington, D.C., July 7, 2023–The measures targeting surprise medical bills, scam insurance plans, and overarching healthcare costs announced by President Biden today, offer welcome relief to small businesses. The emphasis on curbing surprise medical billing is especially impactful, providing a crucial line of defense for small business owners grappling with unforeseen and potentially ruinous charges. These steps to close insurance loopholes that inflate costs show a meaningful commitment to easing the healthcare expenses that have long been eroding the bottom lines of small enterprises.

These actions are reinforced by an historic collaboration across federal agencies to protect consumers from unfair medical debt. Furthermore, an initiative to lower prescription drug costs could save nearly 19 million Medicare Part D beneficiaries $400 annually, directly aiding small businesses, especially those with senior owners or employees.

These actions along with the Inflation Reduction Act, which specifically targets the high cost of prescription drugs and stabilizes health insurance prices, show ongoing and welcome attention to addressing a significant issue with far-reaching consequences for small business owners. The escalating expenses associated with providing health insurance to employees have been eroding small business profits, hampering growth, and hindering their ability to attract and retain quality talent. It is no surprise that 74% of small business owners supported the Inflation Reduction Act.

The cost of healthcare is not merely an isolated concern for individual businesses; it impacts our entire economy. Research conducted by Small Business for America’s Future has consistently revealed that business owners have been forced to postpone hiring new employees and increase prices on their products and services to offset the burden of healthcare costs. Any progress made in reducing these costs is not only beneficial for Main Street but also crucial for the overall health of our national economy. 

These actions resonate with the hopes of small business owners, and we commend President Biden's efforts to address the persistent struggle with healthcare costs. We urge a continued commitment to providing such comprehensive solutions.

To request an interview with Small Business for America’s Future Council Member Dr. Erika Gonzalez, contact Conan Knoll at (831)524-6764 or conan@emccommunications.com.

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About Small Business for America’s Future
Small Business for America’s Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize the nation’s 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.