Since 2010, the Patient Protection and Affordable Care Act has provided healthcare to 24 million individuals who otherwise couldn’t access coverage, many of whom work for small employers or are themselves entrepreneurs.
The law addressed some of small business owners’ top problems when it comes to health insurance, including soaring healthcare costs and limited choice among health plans. Since 2010 the increase in small business healthcare costs has been at the lowest level in years, following regular double-digit increases prior to the law’s enactment.
The health insurance marketplaces created under the healthcare law have been crucial to helping more small businesses, self-employed entrepreneurs and small business employees gain access to health coverage.