Today, the Comptroller’s Office released a new survey regarding the attitudes of Texas businesses on ObamaCare. The results are revealing.
– Only 3.4 percent of employers surveyed believe the law will be good for their business.- 65 percent of all businesses surveyed believe the law will be bad for their business.- 77 percent of businesses surveyed with more than 100 employees think the law will be bad for their business.- 55 percent of respondents expect insurance costs to go up.
Interestingly, of the businesses that anticipate reducing the number of employees or eliminating coverage, the largest percentage in both categories was businesses with 50-99 employees. This illustrates the squeeze the law puts on medium-size businesses. Small business are exempt, large businesses have the economies of scale to absorb the costs, but medium size businesses get caught in the middle. The Foundation has recently published a study, The Impact of the PPACA on Texas Business, examining this issue. Despite the many promises that have been made, Texas businesses have real concerns about their future under ObamaCare.
-Spencer Harris