Small Business Majority writes in support of California's Angel Investor Bill, AB 2758. The legislation would support qualifiying small businesses struggling to find financing by creating a tax credit of 5% to angel investors that invest in businesses with less than $2 million in gross receipts. Additionally, the legislation prioritizes investor applications from those investing in traditionally underrepresented businesses.
Small Business Majority writes in support of California Bill AB 2499, which would ensure premium dollars are spent on actual healthcare expenses rather than administrative costs. This bill will codify existing ACA medical loss ratios of 80/20 for the individual market and 85/15 for the large group market into California law to reinforce the state’s commitment to affordability.
Small Business Majority submitted a letter in support of California's net neutrality bill (SB 822), which would enforce net neutrality at the state level. It allows the state to ensure internet service providers (ISPs) are allowing equal access to the network.
The most surprising development in Maryland this month wasn’t a snowstorm but the fact that the General Assembly and Gov. Larry Hoganput politics aside to pass a lawthat will rescue the state’s entrepreneurs and small business employees from skyrocketing health care costs.
Maryland lawmakers just approved a bill that will curb the cost of health insurance premiums for 150,000 residents through a $380 million reinsurance program. That's money that can be used by insurers to pay for some of the costliest claims made by customers who purchased insurance through Maryland’s health insurance marketplace. States like Maryland are looking at these programs because they can help stabilize premiums in the individual marketplace by helping to compensate insurers for their most expensive customers.
Mid-Atlantic Outreach Director Erik Rettig tesitified before the Senate Committee on Labor & Industry to provide the small business perspective on the Pennsylvania Family Medical Leave Act, or Joanne’s Law (SB 479), and its impact on the more than 2.4 million small businesses employees in Pennsylvania. Joanne’s Law would allow eligible employees to use up to six weeks of unpaid leave to care for their sibling, grandparent or grandchild, as long as that person has no living spouse, parent under 65 or child over 17.
Small Business Majority voiced supports for California Bill SB 1021, which which would extend the cap on prescription drug copays indefinitely by eliminating sunset provisions on current law. The cap is currently set to expire in 2019.
Small Business Majority Northeast Director submitted written testimony in support of Connecticut's SB1: An Act Concerning Paid Family and Medical Leave. The bill, which will provide workers in Connecticut with up to 12 weeks of paid leave a year to bond with a new child or care for a seriously ill family member, will benefit business by lowering turnover, boosting productivity and enhancing employee morale.
On December 26, Small Business Majority submitted comments to the U.S. Departments of the Treasury, Labor and Health and Human Services regarding proposed changes to regulations governing the use of health reimbursement arrangements (HRA). The comments argued that HRAs should not be expanded to allow for use in purchasing coverage through association health plans (AHPs) or short-term insurance plans, as these plans do not offer quality coverage and destablize insurance marketplace for other small business owners and their employees.
Small Business Majority writes a letter in support of California bill AB 2023, which would make the existing Child and Dependent Care Expenses Credit refundable so low- and moderate-income working families can benefit from a tax refund that will help defray the rising costs of child care. This will help put money back in the pockets of working families in the state of California who are struggling to afford the child care they need to participate in the workforce.
Small Business Majority writes in support of California Bill AB 2472, which would require Covered California to conduct a feasibility study on whether a public health insurance option is viable in California. Such a plan has the potential to increase competition and choice in healthcare options for Californians. A public option could also make small businesses more competitive when they are seeking to hire talent.