Welcome to my online chat. I have invited the small business community in our area to join me today so that we can continue our discussion from yesterday’s North Shore Chamber of Commerce business breakfast on the impact of health insurance reform on small businesses.

I’m voting in DC this week, but I had the opportunity to speak as a panelist via video conference yesterday at the breakfast, and I wanted to offer to continue the conversation this afternoon through this online chat format.  I appreciate your taking the time to join me.

I would like to be upfront here that using this mode of communication is a first for me. As this is an experimental effort and due to anticipated votes, there may be an interruption in our conversation, and I may need to place this conversation on hold.

Please know that I appreciate your patience as I learn along with you as to how to best operate in this “chat-o-sphere.” If you have found my website, and you can view the chat stream, it would seem you are on the right track.     If you are experiencing any problems, I invite you to call my office at 202-225-8020, and hopefully someone will be available to assist you.

As a former small business owner, I understand the challenges facing small business owners like you, especially as it relates to the rising cost of health insurance.

While we work to view the incoming questions, let me share with you a couple of statistics on this issue: less than half (45%) of small businesses insure workers; insurance costs for small businesses have rise 129% since 2000; small businesses workers pay an average of 18% more in premiums than those in large firms for the same benefits; and up to 25% of the cost of premiums for some small business health plans go to administrative costs, compared to 10% for some large firms.

The Small Business Majority released a report that showed without reform, small business will pay nearly $2.4 trillion in health care costs over the next 10 years. That is unsustainable. If health insurance reform is enacted, the report found that small businesses could save as much as $855 billion over 10 years, nearly 36%. Additionally, the money saved can be invested back to your business – retaining and creating jobs. In fact, Phillip Cryan, an economist from the University of California-Berkley estimates that an 8% employer responsibility requirement would result in a net gain of 55,365 jobs, a rise in productivity, and a slowing in the rate of health inflation.

Again, I hope that this online forum provides us an opportunity to answer more specific questions and address some concerns you may have.