Business Leaders Left Wondering about Health Care Law’s Consequences

This week, news media have been bombarding the general public with different opinions, angles, and components of the massive health care revamp, the U.S. Patient Protection and Affordable Care Act. President Obama signed the bill into law Tuesday, and while we will not take a position on the legislation, we do feel it is important to consider its results.

“Despite the president’s signature, the legislative work on the bill is not over, nor is the partisan tussle over it. Republicans on Tuesday renewed their vow to repeal the measure,” write New York Times authors Sheryl Gay Stolberg and Robert Pear. “Tuesday’s signing ceremony was the beginning of what will be an intense sales pitch by the White House and leading Democrats to convince Americans of the benefits of the health bill.”

 

Obama admitted that significant portions of the bill, such as the requirement that most Americans have health insurance, will take time to implement.

How this legislation influences business in the United States remains to be seen. For example, the National Association of Manufacturers issued a statement in response to the legislation. It says, in part: “It is unfortunate that the House of Representatives passed a health care bill that is going to increase costs and make it difficult for manufacturers to continue to offer generous health benefits.”

The American Hospital Association also issued a statement, which includes the following: “We applaud President Obama’s leadership and dedication to enacting reform that will better the lives of so many, and we look forward to working with the Administration and Congress to continue to improve health care for the patients and communities we serve.”

Lastly, the Pharmaceutical Research and Manufacturers of America (PhRMA) writes “Our commitment to help pay for health care reform will require all of our companies to make some difficult choices moving forward—on top of already losing more than 150,000 jobs since 2007 because of the recession and other economic factors. But throughout this long process, we have been guided by a belief that all Americans should have access to high-quality, affordable health care coverage and services. This legislation, while not perfect, is a step in that direction.”