MADISON, Wis. (AP) — As Republicans in Congress work to revise the Affordable Care Act, some members of Madison’s startup and entrepreneurial community are watching closely with apprehension.
The lack of focus on self-employed people and entrepreneurs is concerning, especially when considering the economic impact they have, Aaron Olver, the managing director of the University Research Park, told The Capital Times.
“You take a look at the economy, and a lot of the growth is coming from companies with 100 employees or less,” he said. “If we want to insure continued growth, we have to think about the policy implications for our small businesses.”
In agreement was Donna Friedsam, the health policy programs director for the University of Wisconsin Population Health Institute. She said despite a link between entrepreneurship and the Affordable Care Act, it hasn’t really come up in the debate over health care.
The two major changes for employers under the GOP plan are the end of the requirement to provide health care, and the repeal of a tax credit for small businesses offering plans.
Under the plan revisions to subsidies and coverage rules would largely benefit younger people with a healthy income. However, the changes could potentially hurt a company not earning any revenue.
According to the White House, about one in five customers of the Affordable Care Act are self-employed or entrepreneurs.