Although Congress has yet to complete the work of hammering out the legislation, there has been a steady stream of news for small business owners on various aspects of the health insurance plan, not all of which is based on fact.

Obama mentioned how "opponents of reform" have tried to scare small business owners, saying they would be subject to penalties for not providing health insurance for employees.

About 90 percent of all small businesses would be exempt from penalties, Obama said, "because I don't think it's fair to impose a penalty on small businesses that are already operating at very narrow margins."

In addition to providing subsidies for small businesses to buy health insurance, the plan would also provide cost sayings over the long term by offering insurance through a health insurance exchange that would increase competition, Obama said.

The White House also released a report saying more than 650,000 jobs have been saved or created by the economic stimulus package of last fall.