The Cures Act will accelerate the process for bringing drugs and devices to market, which is especially important for investment and the smaller companies that dominate these industries. The Cures Act also restores Health Reimbursement Accounts (HRAs), an important and affordable health coverage option disallowed and heavily penalized under the Affordable Care Act. HRAs are a valued and practical choice for small businesses and their employees, and they especially need this option now, according to Karen Kerrigan, president & CEO of the Small Business & Entrepreneurship Council.

“The Cures Act is a breakthrough bill that will enable breakthrough innovations for Americans and our health care system. In addition, the inclusion of HRAs in the Cures Act is critically important for the health of employees who work at small businesses. This flexible, affordable and valued benefit is especially needed given the shockingly high cost of coverage and the limited choices available to consumers and small businesses. Getting HRAs back into the mix as an option for small businesses and their employees is also a productive first step towards reforming the Affordable Care Act, which Congress and president-elect Donald Trump plan to do early next year.”

Many small business owners have used HRAs to reimburse their employees for medical expenses, but the Affordable Care Act made this an illegal act, fining businesses heavily ($100 day per employee, which went into effect on July 1, 2015) and taking away an affordable coverage option.

“HRAs are a simple, easy and affordable way for small businesses to help their employees with rising health care costs. HRAs never should have been taken away as an option in the first place, but we are pleased to see incredibly strong and bipartisan support for making them available again. Small businesses look forward to President Obama signing the Cures Act into law.”

Read the coalition letter in support of the HRA provision in the Cures Act here.