The findings of a new NFIB survey show the cost of health insurance is what's keeping small employers up at night--still.
The latest National Federation of Independent Business survey reveals more than half of small business employers view the cost of insurance as their "most critical problem."
Health insurance costs for small firms have risen 103 percent in the last decade, causing many to forego offering health insurance. This increase outpaces wages and inflation, and renders insurance unaffordable for many small-business owners, the survey finds.
"Fears over increasing health insurance costs continue to dominate the list of concerns for small businesses, very much in spite of the president's health insurance reform law--certainly not an endorsement of the policy, nor a good sign for the future of the sector," says Holly Wade, senior policy analyst and survey author.
The NFIB authors also note the PPACA has failed to address the "fundamental causes of rising health care cost while opting to focus on coverage." As you know I have put forward numerous ideas in this space to courageously attack increasing costs. See this article for the details.
Health care costs overshadow the No. 2 problem for small business owners--economic uncertainty--by 14 percentage points.
The study was based on surveys of more than 3,800 small business owners.