The federal government hasn't come up with a plan to make health insurance accessible and affordable to small businesses - so many states are taking action on their own. We have the rundown on 8 new initiatives.
The plan, backed by the Business Council of Alabama, allows business owners with fewer than 25 employees to deduct 150% of the amount they pay for employee health insurance premiums from their state income taxes. It also allows employees of small businesses who earn $50,000 or less annually to deduct 150% of their portion of the premium payment from their state income taxes.
"Ninety percent of business in Alabama is small business, and more than 80% of all new jobs created in Alabama are created by small business," says Todd Stacy, a spokesman for the governor. The aim of the legislation is to make health insurance more affordable for those companies and their employees, he says.