Health Care Costs as an Obstacle

The biggest example of health care costs impacting business has been General Motors. But smaller businesses are feeling the crunch just as much, if not more.  In some businesses, health care is the highest expense after salaries. To maintain these employer provided benefits, companies have had to forego vital expenditures like marketing, increased inventory levels, and improved technology. And they still have a hard time keeping up with the cost of health insurance. Ultimately, they have to start laying people off or refusing to pay for coverage any longer.  This is all very negative and can lead to progressive disintegration of businesses.

It is clear that the cost of health insurance has been tough for business to handle. But have we really thought about it as a deterrent to startups? In order to attract employees, companies must offer health coverage. But the cost of coverage makes employees too expensive. Catch 22!

If entrepreneurs have good ideas but can't support the people needed to help execute them, they are stymied. They want to maintain their independence and not take their ideas to big companies. They want to control their own destiny. But they can't get a company off the ground. Sure, there are independent contractors and freelancers out there. But will they bring the passion to the assignment that is needed? Will they align with the entrepreneur's vision and values? Will they willingly become a real part of a team?

There are enough obstacles in starting a business. This one is too much. If we are to encourage entrepreneurs to work their magic to help get the economy back on its feet, we have to come up with a solution to the health care situation.

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