Senator Anthony Bucco, a member of the Senate Budget and Appropriations Committee, expressed concern today after seeing a poll of NJBIA members that shows employer health-care costs have doubled in just six years. Additionally, only 75 percent of small businesses now offer health-care coverage, down from 92 percent only four years ago.
“The BIA study is sobering. Fewer businesses offer health-care coverage, and our state government hasn’t implemented effective solutions. The problem has only grown worse during the six years of Democrat control.
“The problem will only get worse if we don’t act. As the economy slows, pressure will grow on businesses to freeze hiring or move to states where overhead costs are lower. If Governor Corzine signs the Paid Family Leave Act, costs will grow even more for small businesses, forcing many more to drop health insurance in an attempt to rein in costs.
“Our health-care crisis isn’t the result of under-regulation. To the contrary, mandates make health insurance far more expensive in New Jersey than it needs to be. When we deregulated the auto insurance industry, the number of competitors surged and costs fell. We need to do the same with health care.”
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November 28, 2007
