Health insurance costs are one of the largest barriers for aspiring entrepreneurs, preventing talented individuals from investing in their own businesses. According to the U.S. Small Business Administration, nearly 27 million small businesses represent 99.9% of all U.S. companies, yet many face crippling healthcare costs that make sustainability difficult. Studies have shown that health insurance premiums for small businesses are, on average, 8-18% higher than those of larger corporations.
In fact, a survey by the National Small Business Association found that nearly 1 in 4 small business owners had delayed important business investments due to high healthcare costs. And it’s not just the owners who feel this burden: about 48% of small business employees lack employer-provided healthcare, leaving millions with limited options or expensive premiums in the individual market.
By making health insurance more affordable, we can encourage innovation, promote economic resilience, and reduce dependency on traditional jobs solely for healthcare access. Supporting small business owners with accessible health coverage would allow more people to pursue entrepreneurship, resulting in job creation and economic growth. Empowering small businesses is a vital step toward a more flexible and robust economy.