Some of the latest tinkering with the health-reform bill could have big financial consequences for businesses.

U.S. Sen Chuck Schumer (D-NY) announced that the Senate is looking at how businesses will pay for employee health insurance, as well as the more publicized possibility of giving states the chance to “opt-out” of the so-called public option, which would be the government-run health-insurance arm.

Regarding the costs to businesses, the Senate is kicking around a plan that would not require businesses to provide health insurance to workers. However, firms with more than 50 employees would be hit with big financial penalties if any of their workers needed government subsidies to buy coverage on their own.

The penalties could be as high as $750 per employee, even if only a few workers needed the subsidy.

That’s tougher than the stipulation in the bill OK’d by the Senate Finance Committee. That proposal sets penalties of $400 but only for each employee receiving a subsidy.

Right on the heels of the release of the Senate version, House Speaker Nancy Pelosi unveiled the version crafted in the lower chamber.

‘Opt-in’ proposal
The Senate proposal to allow the opt-in public option for states is one that has the best chance for approval by Republicans and moderate Democrats who have opposed the public option until now.

Under the opt-in proposal, detailed by Senate Majority Leader Harry Reid (D-NV), each state would be empowered to pass legislation granting or denying access to a public option for residents of that state.

Tags: health insurance, public option