Average Obamacare Family Plan Costs $17,000 Yearly
A recent poll commissioned by the Job Creators Network found that 76.5 percent of American small business owners are concerned over the rising cost of healthcare under the Affordable Care Act, also known as “Obamacare”.
Furthermore, 62.9 percent of the respondents said that high healthcare costs prevented them from offering health insurance to their employees.
The survey sampled 500 small business owners by telephone between January 17 and 22. The margin of error is 4 percent. To quote the original report.
Many small business owners expressed concerns over rising healthcare costs and their ability to provide affordable coverage to their employees as well. 76.5 percent of small business owners replied that they were concerned over 2018 healthcare costs and 62.9 percent said the prices prevented them from offering care to their employees. They also revealed heavy support for cheaper association healthcare plans—which the Trump Administration has worked to expand. . .
76.5 percent of respondents are very or somewhat concerned over the cost of healthcare in 2018. . .
62.9 percent of respondents say that healthcare costs prevent them from offering coverage to employees.
The survey also addressed other economic questions, and found that small business owners overwhelmingly support President Trump’s Tax Cuts and Jobs Act.
Small business owners are right to be concerned about rising healthcare costs—the average cost of a family health insurance plan under Obamacare is $17,000 annually, according to data from the Kaisar Family Foundation.
This is far beyond the reach of many companies (and individuals).
And of course, the costs continue to rise: we have observed premiums for Obamacare plans double over the last four years in Maryland, with double-digit increases expected for most other states. Not only do such increases defeat the Act’s purpose, but they also have a negative impact on America’s economy.
This is particularly true when it comes to job growth. Consider that under Obamacare, businesses with 50 or more full-time equivalent employees must offer “affordable” health insurance for those employees and their dependents, or face a fine. As a result, many business owners simply avoid hiring new staff. Obamacare is part of the reason that the 2008 recovery is often described as “jobless”.
Hopefully President Trump repeals and replaces Obamacare, as he said he would. Otherwise, job growth will continue to be stymied.