Business Owners Share Personal Experiences with Rate Hike Law

When the health insurance premiums for Lisa McSwain's small construction company increased by 27% this year, she knew she would have to make a tough decision.

"We've managed to hold on and to provide coverage to our six employees for 18 years, but this rate hike might be the final blow. We might have to drop coverage," said McSwain, speaking at a Boothbay press conference in Whales Park held by local business owners who are members of the Maine Small Business Coalition.

Business Owners in Gorham, Westbrook and Scarborough Oppose Insurance Company Influence

Members of the Maine Small Business Coalition from Scarborough, Westbrook and Gorham gathered at The Gorham Grind coffee shop today to hold a press conference in response to $21,000 in attack ads in the local State Senate race funded by Anthem insurance company and targeting Gorham small business owner Jim Boyle.

Health Insurance Industry Gave Heavily to Supporters of Bill

Last month, a report from Consumers for Affordable Health Care showed the effect of Public Law 90, the health insurance rate hike bill. It documented that 90 percent of small business owners have already experienced premium increases, with small businesses in rural areas and older employees the hardest hit.

Real Effects of Rate Hike Law Even Worse

A report released today by Consumers for Affordable Health Care provides even more evidence showing that the health insurance rate hike bill passed last session has had a devastating effect on Maine small businesses, with 90% of business owners who renewed their plans experiencing increases in their premiums, including more than 96% of businesses in eastern, northern and western Maine.

On Wednesday, local members of the Maine Small Business Coalition released a report prepared by Americans for Tax Fairness on how Maine could benefit from ending the Bush-era tax breaks for the wealthiest top two percent. They also delivered a letter signed by more than 120 small businesses across Maine urging Senators Snowe and Collins to vote in favor of ending the tax breaks when the issue again comes before Congress later this year.