Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
WASHINGTON, March 27 -- The office of Sen. Angus S. King Jr., I-Maine, issued the following news release:
U.S. Senator Angus King (I-Maine), along with centrist colleagues Heidi Heitkamp (D-N.D.), Mary Landrieu (D-La.), Mark Begich (D-Alaska), Joe Manchin (D-W.V.), and Mark Warner (D-Va.), today proposed several pieces of legislation that take the next steps toward making the Affordable Care Act work better by providing greater choice and increasing affordability and improving flexibility for workers and businesses.
"While the Affordable Care Act is far from perfect, the truth is that health insurance saves lives. I know this from personal experience. Forty years ago, I was diagnosed with malignant melanoma, but thankfully, my doctor caught it early enough for treatment. I truly believe that if I hadn't had a job that provided me with health insurance, I would not be here today," said Senator King. "Sadly, there are millions of Americans who haven't been as fortunate. About 45,000 people die every year from a lack of health insurance, a statistic I find completely unacceptable, and I can't understand why saving lives has become such a bitterly partisan issue."
The Senators authored an op-ed in Politico laying out their latest ideas, which can be read by clicking HERE.
Senator King is a cosponsor of the following bills:
The Expanded Consumer Choice Act
Provides a new lower cost, high-deductible option called the Copper Plan, in addition to the existing Platinum, Gold, Silver, and Bronze options in the marketplace that would give consumers more control over their own coverage, spur competition, and, most importantly, increase affordability. The new Copper Plan would meet the essential benefits laid out by the Affordable Care Act.
Supporters: Blue Cross Blue Shield Association, Communicating for America, Evolution1, Healthcare Leadership Council, National Association for the Self-Employed, National Association of Manufacturers, National Association of Wholesaler-Distributors, National Retail Federation, Small Business & Entrepreneurship Council, The National Grange
The Small Business Tax Credits Accessibility Act
Improves flexibility, increases affordability, and eases the transition for our small businesses by making Small Business Health Care Tax Credits available for a longer period of time and accessible to more employers.
Small businesses would be able to spend less time and money worrying about how they will provide coverage for their employees. Expanding the current tax credits to include businesses with fewer than 50 employees - instead of the current cap at 25 employees - would provide a real benefit to hundreds of thousands of small businesses and allow them to offer quality care while recruiting and retaining talented employees.
Supporters: National Association of Health Underwriters
Small Business Stability Act
Expands the option for voluntary coverage to employers with fewer than 100 employees, about 98 percent of all businesses. This will provide certainty to small businesses as they make decisions for their businesses and flexibility for planning and growth.
Supporters: National Retail Federation, National Restaurant Association, and National Association of Home Builders
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