New Plans Promise Lowered Health Insurance Costs for Small Businesses

The US Chamber of Commerce called the new regulation a 'victory' for small-business owners

U.S. President Donald Trump speaks alongside Secretary of Labor Alexander Acosta (R) during the National Teacher of the Year reception in the East Room of the White House in Washington on May 2, 2018. SAUL LOEB/AFP/Getty Images

The Trump administration has unveiled a new health care plan that could be a big win for millions of small businesses, employees, and their families.

The Department of Labor finalized a rule expanding Association Health Plans (AHPs) on June 19. The plans, also known as Small Business Health Plans, offer a more affordable health insurance option for small businesses by enabling them to group together.