In Wednesday’s Senate Aging Committee hearing, Senator Reverend Warnock questioned businessman Mark Cuban on the impact higher premium costs will have on small businesses across the country

Georgians who get their health plans on GeorgiaAccess.gov could see health care premiums more than double for 2026 due to cuts allowed in Washington Republicans’ One Big Beautiful Bill

Senator Warnock has made protecting health care for the 1.2 million Georgians at risk of losing coverage because of the OBBB his highest priority during budget negotiations to reopen the government

In Georgia, over 99% – or 1.4 million businesses – are considered “small”

Senator Reverend Warnock: “This gut punch for small businesses impacts the overall economy because small businesses are such a big part of our economy”

Watch Senator Reverend Warnock at Wednesday’s Aging Committee hearing HERE

Washington, D.C. – U.S. Senator Reverend Raphael Warnock (D-GA) questioned businessman Mark Cuban during a Senate Aging Committee hearing on the impact higher premium costs will have on small businesses across the country. Thanks to Washington Republicans’ One Big Beautiful Bill, Georgians’health care premiums have more than doubled for 2026. These increases could devastate Georgia’s small business community, forcing business owners to spend more on their health costs, leaving less capital for investment and growth. 

“This [left] is the cost of the premium for a senior in 2025,” said Senator Warnock gesturing toward the poster behind him. “This person is 62 years old, a small business owner in Georgia, taking home just $65,000 in 2025. The other side [right] shows the cheapest option for that same Georgian. So, $228.17 a month. Now with the expiration of these tax premiums, $1,142.71. That’s quite a jump. How would this monthly jump affect that Georgian’s ability to grow her small business or even just make ends meet?”

Due to health care cuts allowed in President Trump and Washington Republicans’ One Big Beautiful Billsigned into law in July, ACA health insurance premium tax credits will expire at the end of the year unless extended by Congress. Georgia is one of the states that will be most harmed by these cuts, with more than 1.2 million Georgians at risk of losing coverage. Expiring ACA credits will increase insurance premiums for ACA customers across the country, and millions are expected to drop their ACA insurance because of higher premiums. Small business owners and entrepreneurs will feel these impacts with higher premiums cutting into profit margins in an already tight economy.

According to George Washington University, Georgia is projected to lose more than 33,000 jobs in 2026 if Congress does not extend health care premium tax credits for Georgians who purchase their insurance through the Affordable Care Act marketplace. The economic impact of  national health care losses is projected to be roughly $32 billion.

Watch the Senator’s full remarks HERE. See excerpts of the exchange below: 

Senator Warnock:  “This [left] is the cost of the premium for a senior in 2025. This person is 62 years old, small business owner in Georgia, taking home just $65,000 in 2025. The other side [right] shows the cheapest option for that same Georgian. So, $228.17 a month. Now with the expiration of these tax premiums, $1,142.71. That’s quite a jump. How would this monthly jump affect that Georgian’s ability to grow her small business or even just make ends meet?”

Mark Cuban: “It makes her make a lot of hard choices. Either to try to find the money to pay for the premiums or to go without insurance. I think the greatest challenge has been in all of this is that small business owners – Americans that are on the ACA – haven’t had enough time to plan for it [expiring health care credits]. It’s one thing to know that your premiums are going up, it’s another thing not to know how much and how soon. So now, we’re just – in Texas, people are just now starting to see the open enrollment and more will see in a couple of weeks – and as a small business looking to the ACA for their employees, it’s going to be terrifying for them.”

Senator Warnock: “And if they forgo insurance, is it fair to say that that will drive up premiums for everybody?”

Cuban: “Yeah, of course. Because healthy people are going to be most likely not to take insurance.”

Senator Warnock: “This gut punch for small businesses impacts the overall economy because small businesses are such a big part of our economy.”

Cuban: “Well, of course. If you take – there are 33 million companies in this country – 30 million of them are “solo-preneurs” or one person entrepreneur companies and if you’re taking $800 give or take a month out of their pocketbooks, they can’t invest it in inventory, etc, etc. So, it makes it much more difficult to run your company.”

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