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Latino Daily News

Sunday June 12, 2011

Minority Owned Businesses Benefit from the Affordable Care Act

Minority Owned Businesses Benefit from the Affordable Care Act

Photo: Latinos and the Affordable Healthcare Act

Click Here to Enlarge Photo

The Center for American Progress, in partnership with Progress 2050, released a memo and a series of fact sheets explaining how the implementation of the Affordable Care Act helps small businesses owned by ethnic and racial minorities provide health coverage for their employees.

Once implemented, the Affordable Care Act will allow these small businesses, which currently number 5.8 million and generate more than $1 trillion each year, to provide low-cost and high-quality health care coverage for themselves and their employees, which will improve their competitiveness. The result will be an increase in profits, higher wages, and the ability to attract and retain skilled employees.

The memo and fact sheets also analyze how, having access to affordable health insurance for their employees, minority-owned small businesses will help reduce health disparities among communities of color. Once implemented, the Affordable Care Act will allow small businesses to provide improved and more affordable health coverage for their employees through tax credits, access to health insurance exchanges, and access to state-based high-risk pools.

The fact sheets study five different ethnic and racial communities in the United States: Hispanics, African Americans, Asian Americans, American Indians and Alaska Natives, and Native Hawaiian and other Pacific Islanders.