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As if we needed more evidence that Obamacare hasn’t delivered for small businesses, here’s a survey from the National Small Business Association:
The vast majority of small businesses are paying more for health insurance for their employees under the health care law, and many expect their costs to keep going up next year, according to a survey by the advocacy group National Small Business Association.
Ninety percent of the 810 owners surveyed said their costs are up in 2015 over last year, and 84 percent expect to pay more in 2016.
The Affordable Care Act has been so ineffective for small businesses since it became law that 95% reported that their health plan costs have increased in the last five years.
The higher cost of health plans has meant less for investment and employees. Sixty-three percent said they cut back on growing their businesses, 45% held off on worker pay raises, and 25% didn’t hire more people.
Tim Taylor, executive vice president and general manager of a Safford, Ariz., company told a local newspaper how his company is handling higher health care costs:
If the cost of insurance is higher, that’s just that much less that we have for merit increases. Obviously, I’d like to give my best people big raises all the time, but you have to keep that in perspective with what your total labor rate’s going to be. So certainly it impacts the business in that regard, and it impacts the employees.
Not only has the health care law failed to control costs for small businesses, it has inundated them with higher taxes—like the Health Insurance Tax (HIT)—and hours of ineffective paperwork while inhibiting business growth.