PPACA Not Helping SMB Owners Receive Improved or More Affordable Benefits

Newtek Business Services, Inc. has announced the findings of its monthly SB Authority Market Sentiment Survey. A key finding from the June survey is that 51 percent of business owners say their company has not received healthcare that is both better and more affordable under the Affordable Care Act. Additionally, 55 percent of business owners say they are unsatisfied with (34 percent) or unsure about (21 percent) their current healthcare solution.

Barry Sloane, chairman, president and CEO of Newtek said, “This poll substantiates the concern that small business owners believe the Affordable Care Act will become a drain on their business and their employees, without any offsetting benefit in improved healthcare cost to their employees. Only 19% of our polled clients believe their company received healthcare that is both more affordable and better under the Affordable Care Act, while over 80% were either unsure or said they did not receive more affordable care.”

“While the Affordable Care Act only has been mandated for individuals thus far and will not be required for small business owners until the next cycle, the overall negative sentiment, in the reality of higher premiums, fewer choices of doctors, and confusion by exchanges, has created a negative outlook among business owners. In the near term, the promise of more affordable care from the Affordable Care Act has not yet materialized. Hopefully the government and the health insurance providers will take the necessary steps to decrease healthcare costs, increase choice and improve services to independent business owners and their employees,” Sloane continued.