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Survey Shows Business Owners Unhappy with ACA

July, 2014 /PRNewswire/ — Newtek Business Services, Inc. NASDAQ: NEWT, The Small Business Authority®, with a portfolio of over 100,000 business accounts, announced the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 1,500 respondents, the key finding from the June survey is that 51% of business owners say their company has not received healthcare that is both better and more affordable under the Affordable Care Act. Additionally, now that the Affordable Care Act has been implemented, a clear majority of 55% of business owners say they are unsatisfied with (34%) or unsure about (21%), their current healthcare solution.

The full June 2014 results showed the following:

Poll Question Poll Answer Percentage
Have you and your company received
better more affordable care under
the Affordable Care Act?
Yes 19%
No 50%
Unsure 31%
Now that the Affordable Care Act
has been implemented, are you
satisfied with your current
healthcare solution?
Yes 45%
No 34%
Unsure 21%

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “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.”