Small business owners demand to know if insurers are bankrolling new campaign to undermine health law
WASHINGTON, DC – Today, the U.S. Chamber of Commerce and allies announced their latest campaign to undermine the nation’s new health law by attacking one of the law's funding sources: a fee on health insurance companies. The Main Street Alliance released the following statement from David Borris, owner of Hel's Kitchen Catering in Northbrook, IL and a member of the Main Street Alliance executive committee, in response:
Health insurance companies are reporting the biggest profits in their industry's history, beating analysts' expectations by an average of 30 percent in the first quarter of 2011.(1) So let me get this straight: the U.S. Chamber and its allies are arguing to let insurance companies off the hook from paying their fair share to bring the small business benefits of the health law – things like rate review and a value for premiums requirement – to market? And they’re making that argument in our name, in the name of America's small businesses?
This looks like another case of small business identity theft – hiding behind small business arguments to defend big insurance profits, just like when health insurers secretly funneled $86 million to the U.S. Chamber in 2009 to fund attacks on health reform in the name of the business community. We'd like to know, are the insurance companies bankrolling this latest campaign, too?
(1) Reed Abelson, "Health Insurers Making Record Profits as Many Postpone Care," The New York Times, May 13, 2011, http://www.nytimes.com/2011/05/14/business/14health.html?emc=tnt&tntemail0=y