There are some small businesses that rely on well trained craftsmen. It may take many years to develop a group of employees with the skill level to compete worldwide. Our health insurance industry undermines the profitability of these kinds of companies because of onerous health care insurance coverage for older employees.
NEWS FLASH- There is no such thing as age discrimination; it’s the cost of insuring anyone 55 to 65 years old that throws some older people out of work. A 55 year old man is going to be very costly to have on the payroll even if he never was sick or saw a doctor.
If you are in a business that takes 20 years of training to develop necessary skills, it’s very hard to respond to sudden changes in employees. It’s essential to keep the employees that you have. If it’s a 5 person company with one employee in his 30s and the rest in their 50 and 60 and insurance cost zooms up; the only choice may be to close the business. That is exactly what has happened in many businesses of this type.
Canadian or overseas companies where health insurance is not a cost of doing business have taken up the customers of those former US companies.
Lowering the qualifying age of Medicare to 55 would help to keep the businesses of those type that are left, in business.
"Senate Dems May Open Up Medicare To Pacify Progressives"
First Posted: 12- 7-09 12:37 PM | Updated: 12- 7-09 04:06 PM
http://www.huffingtonpost.com/2009/12/07/senate-dems-may-open-up-m_n_382728.html
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