Small Businesses Concerned Over Healthcare Costs

Date: October 04, 2016

Presidential Candidates’ Stances On Healthcare Eyed Closely As Election Nears

It’s no secret that mounting healthcare costs present an enormous burden for businesses large and small. The issue of health insurance costs weighs heavily on small business owners, as the NFIB’s latest quadrennial Small Business Problems and Priorities survey found that 2,831 small business owners who responded cited this as their top concern. This concern is only rising as the 2016 presidential election nears, as either a Trump or Clinton administration would likely bring changes to current healthcare laws. CNBC reports that both candidates have publicly detailed at least some of their broad philosophies on Obamacare. For example, “Hillary Clinton has talked about strengthening the landmark act, while Donald Trump has vowed to repeal the law on his first day of office.” Still, there is uncertainty about the specific details of either candidate’s healthcare plans. CNBC notes that while NFIB’s Small Business Problems and Priorities survey found 70% of small business owners citing healthcare costs as their top concern, National Small Business Association data “finds 42% of small businesses say they’ve contacted lawmakers about healthcare costs.” With small businesses with at least 50 workers now facing penalties for not providing insurance of $2,000 per worker annually, many are faced with a tough choice, as their costs will rise either to cover workers or to leave them uninsured.

What This Means For Small Businesses

As the election draws near, healthcare costs are clearly top of mind for small business owners, who have suffered under the burdensome Obamacare mandate. As NFIB President and CEO Juanita Duggan told The Hill following the release of the most recent Small Business Problems and Priorities survey, Obamacare’s supporters “defended the plan as a solution to the cost problem. Obviously, the law has failed in its central promise.”

Additional Reading

The Hampton Roads (VA) Virginian-Pilot previously reported on the results of the NFIB Small Business Problems and Priorities survey.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

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