• Most Micro-Business Owners Not Prepared for Retirement
• Bush Continues to Push for Health Care Reform
• Health IT Legislation on Tight Deadline
• Member Poll: Cover the Uninsured

Most Micro-Business Owners Not Prepared for Retirement

The NASE brought the perspective of micro-business to a House Small Business Committee roundtable focused on small businesses saving for retirement. Hosted by Ranking Member Nydia Velázquez (D-N.Y.), Democratic committee members heard from Kristie Darien, executive director of the NASE's legislative office. “Until there is more access to capital for micro-businesses and the cost issues relating to health care are resolved, it is difficult to encourage saving for retirement,” said Darien. “As it stands, all extra money tends to be reinvested into their businesses or is utilized to offset rising health care costs.” Last year, the NASE conducted an online member poll regarding retirement savings and found that nearly 30 percent of respondents currently have no savings for retirement and about one-quarter of respondents have less than $15,000 saved. Additionally, only 7.5 percent of respondents feel very confident that they have enough money to live comfortably through retirement, while 57 percent do not feel confident. The NASE supports measures to encourage retirement savings and simplify the process of contributing to personal and employee retirement accounts. The NASE also supports the Pension Protection Act of 2005 (HR 2830) in its efforts to raise and make permanent contribution limits that are set to expire in 2011. The NASE continues to work with the Savings Coalition of America to enhance retirement security among micro-business owners. For more information on the NASE's legislative priorities, visit http://advocacy.NASE.org. Bush Continues to Push for Health Care Reform George Bush Last week, President Bush applauded the work of small-business owners during National Small Business Week. He also addressed the major hindrance of affordable health insurance options and his proposals to better the health care system in the U.S. “It's really important for our country to understand this fact: small businesses are vital for our workers. Small businesses create two out of every three new jobs. And they account for nearly half of the country's overall employment,” Bush said at a U.S. Small Business Administration (SBA) conference. “Think about that. Two out of every three new jobs are created by the entrepreneur. That's why it makes sense to have the small business at the cornerstone of a pro-growth economic policy.” Bush highlighted the need for affordable health insurance for small-business owners in the form of small-business health plans (formerly called association health plans) and health savings accounts (HSAs) used in conjunction with a high-deductible health insurance plan. He also called for transparency of health care costs and quality in addition to progress in health care information technology to improve efficiency within the current state of health care. Regarding HSAs, Bush said that his plan empowers small-business owners to make rational decisions about health care. “The more the consumer is involved in the quality and price of a product, the more likely it is the product is not going to be increasing at double-digits rates. Consumer involvement is an important aspect of quality health care at affordable prices.” The NASE continues to fight for affordable health care for micro-business owners. Consumer choice is an important part of the NASE’s legislative priorities and the association supports the expansion of HSAs and small business health plans to make health coverage accessible to micro-business owners. But with current budget constraints, it will be difficult to get further tax breaks on HSA contributions through Congress this year. For more information on the NASE’s health care priorities, visit http://advocacy.NASE.org. To read Bush’s remarks in their entirety, visit http://www.whitehouse.gov/news/releases/2006/04/20060413-2.html. Health IT Legislation on Tight Deadline Immigration and lobbying reform, an unresolved budget and an election year do not bode well for health information technology (IT) legislation that has passed through the Senate with bipartisan support but is currently stalled in the House. S. 1518, the Wired for Health Care Quality Act, would establish a national interoperable electronic patient records system. Introduced by Sen. Michael Enzi (R-Wyo.), the bill had support from both political parties in the Sentate. However, while two similar bills have been introduced in the House, neither has made much headway. Health policy analysts have said that the House would need to pass the legislation in the May working period to allow enough time for the bills to be reconciled in conference. That reconciliation, where legislators from the House and Senate agree to the same language of the bill, is estimated take at least six to eight weeks. The NASE supports a secure national electronic patient record system as an efficient and cost effective step forward. Contact your Members of Congress and tell them to support health IT legislation this session of Congress by visiting the online Legislative Action Center at http://advocacy.NASE.org. Member Poll: Cover the Uninsured The NASE joins a diverse group of national organizations in support of this year’s Cover the Uninsured Week, May 1-8th. Currently, 45 million Americans have no health insurance, with 60 percent of uninsured Americans representing owners, employees or dependents of those working in small business. Let the NASE know your opinions on this issue by visiting the MyNASE Web site at http://my.NASE.org/. Log in to your free MyNASE Web account. If you have not set up an account, you can do so at http://my.NASE.org/ with your member number.