Statement from the President on New Business Roundtable Report on Health Insurance Reform
“A new report released today by the Business Roundtable underscores what experts and businesspeople have told us all along – comprehensive health insurance reform is one of the most important investments we can make in American competitiveness. It finds, for example, that if reform passes this year, businesses could see health care costs reduced by as much as $3,000 per employee in 2019. And that means more than savings for businesses: it will be vital boost to American competitiveness. The report also echoes widespread support for the cost-containment and fiscal responsibility provisions in current legislation, such as a new CMS Innovation Center, accountable care organizations, and reducing preventable hospital re-admissions.
The Roundtable’s report also makes clear the steep price that American businesses stand to pay if we fail to act. If we don’t pass comprehensive reform, the report finds, health care costs that are already squeezing our businesses will continue to rise, and in ten years, employment-based spending on health care for large employers will be fully 166 percent higher per employee than it is today. And the yearly health insurance costs for the average employee will rise to a staggering $28,530.
The Business Roundtable’s report comes as Congress is reaching new milestones in the effort to reform our health care system. The House of Representatives acted to pass their version of the legislation on Saturday night, and the Senate’s version will move to the floor soon. The potential benefit for America’s businesses is just another reason why we can’t afford delay or political games as this process moves forward. I look forward to working with our business communities and their partners in Congress to pass reform by the end of the year.”