Earlier this year, eHealthInsurance surveyed small business employers to find out how much they know about Obamacare. If you’ve been following this issue, you won’t be surprised to learn that most small business owners (fewer than 50 employees) are still confused about health reform.
The survey found that only 44% of small employers understood health care reform’s employer mandate. Beginning next January, the Affordable Care Act (ACA) does require businesses with the equivalent of 50 or more full-time employees to offer their employees’ health insurance or pay additional taxes. The ACA does not require this of businesses with fewer than 50 workers.
The survey also revealed that only 18% of small employers believe they can confidently define or explain what a health insurance exchange is, and 64% admit to not understanding exchanges at all. Government-run exchanges, which are slated to come online in October of 2013, would make subsidized health insurance available for lower income people who don’t receive health insurance from their employer, starting in 2014.
For nearly a third of small employers (31%), the number one reason they offer health insurance is to attract talented workers. Along with this, 70% of small employers believe it’s at least possible their employees would look for work elsewhere if they stopped providing health insurance. The survey also revealed that 67% of small employers would not drop health insurance for employees in 2014.
To learn more about these survey results, see the infographic below…
Infographic courtesy of eHealthInsurance.