The president-elect recently vowed to reduce the cost of prescription drugs, which is encouraging news for health consumers — including small business owners who say the high price of medications is affecting their bottom lines.
Small Business Majority released a new scientific opinion poll last week that provides a picture of the difficulties small business owners face when it comes to the cost of prescription medications. Most entrepreneurs surveyed include prescription drug coverage in the plans they offer their employees, and more than half say drug costs are a consideration when selecting a plan. But these small employers find themselves struggling to afford prescription drug costs and believe that these costs are hurting small businesses. In many cases, small business owners are either absorbing these increased costs themselves (31 percent) or passing them on to their employees (39 percent). Continue reading