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May 2016
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Should Small Business Owners Be For a Single-Payer System?

Interesting follow-up to the The New York Times case study of a bakery owner’s decision on employee health insurance coverage. Bakery owner Rachel Shein had some intriguing answers to reader follow-up questions:

Q. Do you think your customers would pay a few more cents for your baked goods — especially if it allows you to offer your employees health insurance?

A. Our products are unbranded and sold in hundreds of outlets so it would be hard to educate consumers about our employment practices. And the popularity of Wal-Mart shows that most consumers just want the best price.

Q. You suggested in the article that you might have to raise your prices 4 percent to cover the cost of providing health insurance. But 4 percent of $8 million — your annual revenue — is $320,000. That’s a lot more than you estimated the cost of insurance. Couldn’t you just raise your prices 2 percent?

A. Yes, a 2- to 3-percent increase could cover the costs, but it’s a low margin business and pennies matter so we like to build in some buffer.

Q. Would you favor a single-payer system?

A. I am in favor of a system that doesn’t penalize a business for being successful and able to hire more than 50 people and doesn’t deter us from wanting to grow. I am in favor of a system where everyone pays in, and everyone is covered. If that is a single-payer system, I’m for that.

Bakery Owner Talks About Coping With Health Insurance Changes

Are you a small business owner? Tell us about it in our discussion forum!

Related posts:

  1. Reminder: Small Business Health Insurance Tax Credit Worksheet
  2. Do People in Vermont Really Want a Single-Payer Healthcare System?
  3. Are Small Business Owners Doomed in a Medical Emergency?
  4. How Does a Real Small Business Cope With the New Health Insurance Requirements?
  5. Vermont Moves One Step Closer to Single-Payer Healthcare System

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