The implementation date for the Affordable Care Act is drawing closer and closer and the lack of direction from the federal government has many small businesses worried about its impact.
CBS This Morning ran this story on how the ACA is making business owners nervous… and a few key lawmakers, too.
An article on Free Enterprise goes into some more detail about business concerns with the ACA:
Gallup finds that 48% of small business owners think the Patient Protection and Affordable Care Act (PPACA) “is going to be bad for their business,” while 39% don’t think it’ll have an impact. Fifty-five percent of those polled think the health care law will increase their health care costs, while only 5% think they’ll pay less.
Lisa Scherzer at Yahoo’s The Exchange blog points out some additional data showing confusion with the law:
A survey conducted in February by eHealth of 259 business owners with fewer than 50 workers found that almost a third (32 percent) of respondents incorrectly believe they’ll be required to provide group insurance in 2014, and 24 percent think they’ll be taxed if they don’t.
“There’s clearly a significant amount of misinformation floating around affecting a number of employers and making them panic,” says Linda Blumberg, a senior fellow of the Urban Institute’s Health Policy Center.
“So many small-business owners are confused about this, but there’s an appetite to learn about it,” says Kevin Kuhlman, manager of legislative affairs at the National Federation of Independent Business. No doubt in part because of this confusion, in February the SBA launched a site to help educate business owners on the new law.
Consumers are baffled, too. A Kaiser Family Foundation survey from March found that, three years after the law’s passage, a majority of Americans (57 percent) say they don’t have enough information about the ACA to understand how it will affect them.
What’s very disturbing from this poll is 41 percent said they’ve held off on hiring workers, and 38 percent said they’ve pulled back on growing their businesses because of the law.