Tag Archive for 'healthcare'

POLL RESULTS: New Obamacare compliance is coming for small businesses in 2016. Do you know how it applies to you?

The Question:

New Obamacare compliance is coming for small businesses in 2016. Do you know how it applies to you?

11% - I am prepared to comply with new Obamacare rules.
9% - I am not yet in compliance, but know what to do.
23% - I am not in compliance, and still don’t know what to do.
57% - My business does not have to comply with Obamacare.
Jim’s Comments:
Most small businesses have fewer than 50 employees, which is currently below the criteria for having to comply with Obamacare under the employer mandate. So I’m not surprised to see that our sample responded with 57% in this category.
But I am surprised to see that about a third of our folks still aren’t yet in compliance. The reason is likely that we’ve all seen how many times the law has been unilaterally changed by the Obama administration — more than 30 since 2010 — including moving compliance date deadlines. Why jump through a bunch of hoops if you don’t have to, right?

However, I think Obamacare is where it’s going to be for now, so if you have to be in compliance, either do so or know your exposure for non-compliance. Good luck.

Thanks for your abiding support of our poll each week. Check out our new one below.

http://survey.constantcontact.com/poll/a07ec20m7kriiucwr57/start.html

Video: Why Obamacare is unpopular with small business owners

In this week's video I share why so many small businesses are afraid of Obamacare.

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Why Obamacare is unpopular with small business owners

Obamacare is very unpopular with Americans.

A recent CBS poll showed Obamacare is unfavorable by 54% to 36%; a September UConn survey reported 53% to 38% unfavorable to favorable; and CNN just reported Americans disapprove of Obamacare by 57% to 39%.

But this is general population research. What about small business owners?

When the Small Business and Entrepreneurship Council asked their members this question, “Will Obamacare make health insurance more affordable?,” 69% said no. In our online polls this year, 78% of small business owners think the law should be repealed, and 93% do not want to change from their current plan to Obamacare.

So why is Obamacare so unpopular, especially out here on Main Street? Well, it’s a mixed bag, but a lot of it is fear.

Even though Obamacare won’t go into effect until 2014 for individuals and 2015 for employers, it’s already costing small businesses regardless of the number of employees they have. For example: Health insurance carriers have started raising premiums to small businesses in anticipation of expensive Obamacare mandates, like guaranteed insurability.

Successful business owners, especially those with passive income, like rent, could be subject to a 3.8% “health care surtax” on income beginning in 2013, which along with other Obamacare taxes, will be collected before the law goes into effect. Small business owners don’t understand charging for something not yet delivered.

And any small business with $500,000 in sales and at least one employee may be fined if they don’t give notice about the existence of an Obamacare Exchange “in writing, no later than October 1, 2013, including a description of services provided, and the manner in which the employee may contact the Exchange to request assistance” (DOL.gov). Two weeks before this deadline, we asked our small business audience if they knew about the notice requirement: 32% said yes, 68% said no. It’s still unclear if the fine will be imposed in 2013

Small business owners don’t like what they know about Obamacare, and this is one example of why they’re afraid of what they don’t know.

For small business owners—and most other Americans—Obamacare is the devil we don’t want to know.

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Check out my latest segments below from The Small Business Advocate Show® where I go more in depth about how Obamacare will affect your small business.

Why is Obamacare so unpopular on Main Street?

Why Main Street is going to have to take back America

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Where is small business’ Obamacare special exemption?

Since the Affordable Care Act, aka Obamacare, became law in 2010, many interesting developments have transpired regarding it, but none more than these recent ones.

1. The law was passed with the specific language that members of Congress and staff would be subject to Obamacare. But recently the group that made this law is complaining that it would just be too disruptive and expensive if they lost their Federal Employees Health Benefits Program (FEHB).

2. Acting IRS Director Danny Werfel testified before Congress that he and IRS employees don’t want to be subject to the law they will be enforcing on the rest of us. Like Congress, they want to “keep what we have.”

3. A recent poll revealed that almost 93% of federal employees don‘t want to be subject to Obamacare. They want to keep FEHB subsidies.

4. Big unions, who lobbied aggressively for Obamacare, are now asking to be exempt because it won’t be as good as the very generous “Cadillac Plans” in their labor contracts.

In a recent online poll we asked small business owners what they thought about these positions on Obamacare. Only seven percent allowed that they didn’t care what government employees did because “Obamacare is okay with me.” In rich irony, the rest of our respondents said, “I agree with government employees, let me keep my current coverage too,” at the same rate as the government poll, 93%.

So the question is not about popularity; Obamacare is almost universally unpopular and, as we’re seeing, is increasingly so. The question is whether the powerful and well-connected who created, promoted, and will enforce this law will be allowed to weasel out of it.

We now know that, contrary to the law, President Obama will allow Congress and 10,000 staffers to continue to receive hefty FEHB subsidies. On my radio program I asked Stephen Moore, editorial board member of the Wall Street Journal, about which government employees would be subject to Obamacare. He said that was currently being determined because other than Congress, no federal employees were included in the law when it was written.

Over the next several months, we should pay close attention to those who think it’s okay to create, lobby for, and enforce a very unpopular law, but don’t want to be subject to it themselves – apparently without any sense of shame.

Meanwhile small businesses, who create over half of the U.S. economy and jobs, are not being considered for Obamacare exemptions.

What’s wrong with this picture?

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Check out my latest interviews on The Small Business Advocate Show® with Stephen Moore and Bill Brandt. We talk about that how only those who don’t have political connections will have to comply with the disastrous Obamacare.

Will federal employees be subject to Obamacare? - My interview with Stephen Moore

Will everyone be made to play by the Obamacare rules? - My interview with Bill Brandt

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Small Business Advocate Poll: How will Obamacare impact your small Business?

The Question:
The Supreme Court has upheld most of Obamacare, how will this decision impact your small business?

44% - This will hurt my business

4% - This will be good for my business

42% - I don’t know, but I’m afraid of Obamacare

10% - I don’t know, but I’m not worried about it

My Comments:
Obamacare has survived a Supreme Court challenge and been judged to be constitutional. We wanted to know what our small business audience thought about that, so last week, in our online poll, we asked this question: “The Supreme Court has upheld most of Obamacare, how will this decision impact your small business?” Here’s what we learned.

Just 4% of our sample said, “This will be good for my business,” while 10% said “I don’t know, but I’m not worried about it.” But 44% reported that Obamacare, “will hurt my business,” and 42% allowed, “I don’t know, but I’m afraid of Obamacare.”

Obamacare is the law of the land, unless and until the next Congress and a new president repeals it. In fact, part of the narrative in Chief Justice Roberts’ ruling indicated that the ultimate decision about such a sweeping law should rest with the electorate.

There are 26 million small business owners in the U.S. and another 70 million small business employees. That’s a lot of votes that could be influenced by the anti-Obamacare sentiment - 86% - demonstrated in our poll.

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I’ve talked to several people in the last couple of weeks on the impact of the Supreme Court’s Obamacare decision on the economy, including Michael Reagan, son of Ronald Reagan and author of The New Reagan Revolution; and Barbara Weltman, small business attorney and author of J.K.Lasser’s Small Business Taxes. Click on the links below to download or listen.

Gobsmacked by SCOTUS with Jim Blasingame

Michael Reagan on the Supreme Court ruling on Obamacare with Michael Reagan

Obamacare my be constitutional, but businesses still uncertain with Barbara Weltman

What will Obamacare cost your small business? with Barbara Weltman

Check out more great SBA content HERE!

Take this week’s poll HERE!

Is ObamaCare good for small businesses?

The Patient Protection and Affordable Care Act, aka Obamacare, was passed by Congress and signed into law by President Obama two years ago. It was considered the signature accomplishment of the president’s first term.

Obamacare was hailed as comprehensive health care reform that would not increase the deficit and would solve rising insurance costs for small businesses. Two years hence, here is evidence that seem to refute these claims.

  1. The initial price tag for Obamacare was $940 billion over 10 years. The Congressional Budget Office (CBO) recently reported the new estimate to be $1.76 trillion over 10 years, almost doubling the original claim.
  2. Instead of the lower insurance costs small businesses were promised, the non-partisan Congressional Budget Office expects costs for small group and individual insurance purchasers to rise faster now than without Obamacare. And according to the Galen Institute, Obamacare’s early mandates contributed to employer costs rising three times faster last year than they did the year before.

  3. There are at least two parts of Obamacare that are causing small businesses to restrict growth plans and rethink compensation models and employment structure in anticipation of these provisions.
    • The employer mandate requires small businesses with more than 49 employees to provide “government-approved” health insurance or face a $2000 fine per employee, after the first 30. The employer mandate does not apply to part-time employees.
    • Obamacare does include tax credits for employers with fewer than 50 employees, but as the number of full-time employees and average compensation increases, the credits decrease. These provisions seem to be at cross-purposes with much needed jobs and income growth. Also, even if the individual mandate currently being considered by the Supreme Court is struck down, the employer mandate and tax credit restrictions would still apply.

  4. We wanted to know how small business owners feel about Obamacare, so in our online poll recently, we asked this question with three possible answers: “On the 2nd anniversary of Obamacare, where do you stand on this law?” Twelve percent of respondents chose, “I like it and think it will be good for America,” while those who were “Undecided,” represented 10% of our sample. But the rest, 78%, said “I don’t like it and think it should be repealed.”

Write this on a rock… Obamacare is contributing to the economic uncertainty that small business owners are feeling.

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On my radio program, The Small Business Advocate Show, I’ve talked extensively with Grace-Marie Turner, President of the Galen Institute, co-author of Why Obamacare is Wrong for America and staunch advocate of market-based healthcare solutions, about the real cost - in dollars and liberties - of Obamacare.

Click here to listen or download our conversations.

Check out more great SBA content HERE!

Watch Jim’s videos HERE!

Take this week’s poll HERE!




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