Could it be the Affordable Care Act (a.k.a Obamacare)? Some small businesses think so. The Washington Post speaks with a number of small business owners:
These changes are less than a year away, and I still have no information about how much our premiums are going to cost…It definitely gives me pause when thinking about adding another location.
- Jody Manor, owner of Bittersweet Catering, Cafe and Bakery.
There is tremendous confusion and fear among many of my competitors and other business owners in my network, particularly about what you have to cover and how you have to report…In speaking to them, I am convinced that the primary reason we aren’t seeing a robust economic recovery is the uncertainty and costs associated with this health-care law.
- Hugh Joyce, owner of James River Air Conditioning in Richmond, VA.
Cost and uncertainty surrounding the health insurance premiums may be affecting small businesses, but what about ACA’s subsidies to help small businesses cover these costs? The Post reports that many small businesses “…have complained that an onerous application process has deterred business owners from claiming the credit, and the Government Accountability Office reported in May that only 170,300 of the nation’s 1.4 million eligible firms claimed the break in 2010.”