Economic impact of Healthcare Bill - Lima, OH News Weather Sports

Economic impact of Healthcare Bill

With the Healthcare Bill passing through the House of Representatives, the reforms made to the country's healthcare would have some impact. 

Often the focus is on how the bill would impact health if made law, but John Navin, Dean of the Dicke College of Business at Ohio Northern, says that economic changes could come with the bill too.  Navin says that the bill becoming law would have effect on the labor market - affecting businesses of all sizes.

"For the larger companies, they're still going to offer insurance - that is still going to be part of the market, and for them, part of it has to do with the tightness of the labor market," Navin said.  "You need companies to remain competitive, and as we see the unemployment rate drop, that means that in order to attract employees, you're going to have to offer them more."

But the dean says that individuals will be affected the most by the changes.

"The largest impact is truly going to be on individuals as opposed to those that get their insurance through an employer; over half of us receiver insurance from work in some form or fashion," said Navin.  "It's also going to change the way that insurance is subsidized, and that predominately applies to individuals that go out get their coverage through the healthcare market."

The Healthcare Bill is currently being considered by the Senate.